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Updated over 3 years ago on . Most recent reply

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Anne W.
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Tenants told me he wanted to buy a house on the move-in day

Anne W.
Posted

New landlord here in Colorado, rented out the previous residence. Today I delivered the keys to the tenants who relocated from another state. He told me that he really liked the neighborhood and he would look for houses to buy. He also told me to let him know if I knew someone selling or I wanted to sell this house. I am confused and a little mad. Please share your thought and provide some education for this newbie here. 

When I listed this house for rent, I received overwhelmed amount of interests. My tenant was the first one to respond to the listing. He called and emailed me every day. He is relocating from another state, so he sent his realtor here to see the house and then the tenant flew here to see the house again. He provided me a touching letter introducing himself and his family (two beautiful kids). He was very disappointed after I let him know that I could only give him a two-year lease because he wanted a multi-year lease, preferably a 4-year. He has a 800+ credit score and healthy saving. I explicitly listed in ad that "no pet" and "no washer/dryer". After we are about to sign the lease, he told me his son really wanted to have a cat. Also wanted "clarification" about he W/D. I accommodated both requests given he would potentially be a long-term tenant. 

My interpretation of today's conversation is that he is implicitly letting me know he will not honour full term of the lease (two-year). Can he do that?? I used Zillow lease and I can't find any language regarding landlord's rights if tenants breaking lease early. Honestly I would be fine if this is year 2, but seriously he told me this on day 1?

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Jim K.#3 Investor Mindset Contributor
  • Handyman
  • Pittsburgh, PA
13,750
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Jim K.#3 Investor Mindset Contributor
  • Handyman
  • Pittsburgh, PA
Replied

I got one of those myself. I wouldn't worry too much. My guy was at the end of his rope when he moved in, his former home had been condemned, his former landlady was pushing him out. Came in, signed a one-year lease, made oodles of noise about saving up for a down payment. Gonna own his own house, yes sirree.

Then he gets a brand new car with a monthly payment as much as his rent, uses me as a reference to rent furniture, does all his shopping at Costco, upscale supermarkets. Never seen a generic-branded product in that house. Tells me how great GrubHub is. Saving like a champion.

Four years later, he's still in place, paying off my property.

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