All Forum Posts by: Colin Paarmann

I have 2 tenants (Tenants A and B) that have been renting our townhome together for about 3 months. Tenant A texted me today saying he plans to move out of state and that Tenant B has a friend that would like to move in. I have an early termination clause (and fee) in my lease that I plan to remind the Tenant A about, but I am leaning towards waiving the early termination fee if the new tenant passes background screening since I won't be losing any rent.

My questions:

1. Should I structure this as a sublease or end the current lease and start a new one with Tenant B and the new person?

2. How should I handle the security deposit if I sublease? Or if I end the current lease and start a new one? There is a minor amount of damage that will need to come out of the current deposit.

Thanks!

Structural engineering seems like the most direct correlation to real estate but a profession like accounting or becoming a real estate agent might have a more direct impact than any type of civil engineering.

I would agree with Sam here. I'm also a recent engineering grad in the twin cities area. It seems that most available duplexes are in less desireable neighborhoods nearer to downtown Minneapolis and St. Paul. If your son doesn't want to live in that area there seems to be a lot of single family availability in the near suburbs. I am closing on a SF at the end of April and would be happy to recommend an agent, mortgage broker, or inspector if you need. Best of luck!