Tenant Issue: couple broke up, 1 tenant want to stay but can't afford it. What to do?

[Roderick McCleary]

Hi BP - I have had this couple as tenants in my rental for the last 2yrs and they've been nothing but great tenants for me. Always pay on time, rarely complain about anything and overall low maintenance for me. Unfortunately, they just broke up and have 2mo left on their lease. 

Challenge: 1 tenant makes enough $ to comfortably afford the rent on their own. The other tenant does not make enough $ to afford the rent on their own. Both tenants individually want to stay in the Unit and sign a new lease. The tenant who does not make enough $ is still living in the Unit by herself. 

Any recommendations how I handle this situation? Not sure how to properly tell the tenant who's income doesn't support the rent that I do not want to resign the the lease with her. I am located in Illinois.

[George Skidis]

1. First and always, what does the lease say? Who signed it, him or her? If you are a good landlord, you had both of them sign it. 2. Even though he moved out, if he signed the lease, he is still responsible for the rent until the lease expires. 3. Did he give you proper notice that he was vacating the property? Once you have all of that sorted it is time to let both of them reapply to remain in the unit.

Residency is a privilege. Can she get a roommate or a cosigner? If not, she needs to be told according to the laws of your municipality. Whether you need a pay rent or quit, Notice to Cure a breach or a 30 day notice to terminate is between you and your attorney.  Serve it ASAP if she needs to go. 

The problem many landlords have is they become friends with their residents. This was a mistake I made early on in my investing. Always remember that this is a business relationship. It should always be Mr., Mrs., Miss or whatever their title is. Whatever happens always be professional. Do not become friends with the residents. If you do their problems will become your problems a little faster than you would like. As an example, I had a resident call me for bail money at two in the morning. Told her I didn't have it and her baby daddy would need to find another way out. 

You cannot carry the weight of your residents' issues on your shoulders. You are not Atlas and the emotional strain it will bring could ruin your life. Your responsibility ends with providing a clean and safe place to live. Anything beyond that is charity work and should be handled by your institution of choice.

Good Luck and Good Investing