Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago on . Most recent reply

User Stats

9
Posts
2
Votes
Dylan Katz
2
Votes |
9
Posts

How should I handle a tenant request to break lease?

Dylan Katz
Posted

Hello BP Community, 

I am new to landlording...just closed on my first property about a month ago, I'm in the southeastern PA market, it is a side by side duplex with a detached barn I rent out for storage. I inherited tenants on both sides of the duplex, the young couple on one side are about 3 months into a 1 year lease, and just sent me an email asking if they can break the lease and move out without paying a fee because they broke up (lease states that 50% of remaining term rent is the penalty). In my limited time knowing them, they appear to be good tenants that wouldn't give me problems. I'm sure there are plenty of more experienced investors on here who have received requests like this, do you always charge the full penalty the lease states? Are there any other factors I should consider as I decide how I want to respond/handle this? 

P.S. I'm pretty confident that I'll be able to find a new tenant fairly quickly as the rent is around 10% below the median for comparable apartments in the area. 

Most Popular Reply

User Stats

7,723
Posts
9,592
Votes
Bill B.#3 Syndications & Passive Real Estate Investing Contributor
  • Investor
  • Las Vegas, NV
9,592
Votes |
7,723
Posts
Bill B.#3 Syndications & Passive Real Estate Investing Contributor
  • Investor
  • Las Vegas, NV
Replied

I’d ask for 1 month but be ready to settle for 1/2 or nothing. Don’t forget in this crazy period we’re living in they could stop paying rent and not move out. Especially if one of them doesn’t have a job. 

You’ll be able to use your new lease, screen them using your policies, and set the rent you want to collect. 

Loading replies...