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Updated about 8 years ago,
Early Termination of Lease
I recently purchased a 4-unit property (like a week ago). While I was moving in, one of the tenants gave me notice that she would be moving out in 45 days. I reviewed her lease and it has significant penalties for early termination: 1) The remaining rent due and payable (offset by re-renting of course - pretty standard), 2) A fee of 1 month rent to compensate me for my time/efforts to re-rent the unit, 3) Tenant is responsible for all expenses to re-rent including repairs, painting, advertising, legal fees, etc.
The tenant has made it clear that she has no intention of paying the penalties and wants me to just treat this as if her lease normally terminated. She has 8 months remaining on her lease. She stated her reason for moving out is because I'm having another tenant's bathroom gutted and she feels that the noise from the construction will make her unit uninhabitable for her because she's a grad student and studies at home.
I know I can legally pursue the full amount of the lease and penalties. Collecting it is another story. I'm not sure that it's worth the aggravation. On the other hand, she has put me in a bad position where I not only have to juggle moving and the upcoming holidays, but now I also have to interview applicants and show the apartment.
There has to be some middle ground between total aggravation (housing court) and doormat (waiving the penalties) but I'm not seeing it. Any advice for a brand new landlord?