All Forum Posts by: Dustin N.

Originally posted by @Eric Greenberg:

Hi Dustin, 

Is your unit vacant right now do to them not moving in or do you still have time to find someone to fill it? 

-Eric

The unit is vacant right now and would not be occupied until their lease starts in 3 months. But because they want to terminate, the unit is indeterminate on vacancy until a new tenant is found to move in before that date.

So i have time to find a new tenant but my concern is loss of rent for the time looking for a replacement tenant.

Is it legal for me to keep security deposit for associated time in marketing the unit again and what are the regulations in effect for leases like these that are signed months in advance?

Thanks Benjamin and Mary, 

I will look into your suggestions on Monday when businesses open!

At least I know what direction to look into.

Originally posted by @Kevin M.:

What did future tenant do that put him/her in breach of your lease agreement?

The answer depends on the wording of your contract and the extent of their material breach. 

They said they needed a larger unit and wanted to cancel the lease since I do not have any larger units available.

If it weren't for them, the unit could have been rented out to someone else who would have probably moved in before their commencement date so I'm concerned with loss of rent for those months. 

Hi all,

Can I keep a security deposit if tenant signed a contract but the commencement date is not until 3 months later?

What is the legal effective date to hold tenant liable for rent - is it based on lease date or commencement date?

Would it be reasonable/lawful to collect security deposit in terms of putting unit back on the market and the associated costs for that?

I looked up the Landlord/Tenant laws for Pennsylvania and Montgomery County but couldn't find specifics that addressed my situation.

Appreciate any guidance to other references I should look at.

Thanks!

Planning to acquire multifamily units within the next 12-18 months in the DFW area. Price range 500-1.5 million. Any recommendations on good brokers I can develop a relationship with who can send me regular properties so that I can start looking at what the market looks like? Thanks.

Planning to acquire multifamily units within the next 12-18 months in the DFW area. Price range 500-1.5 million. Any recommendations on good brokers I can develop a relationship with who can send me regular properties so that I can start looking at what the market looks like? Thanks.

Looking to start investing in smaller commercial real estate in the dfw area. Any book recommendations or websites to get started? Thanks!

anyone know of any handymen in the dallas region?  Thanks.

Does anyone have any local banks in the DFW area they recommend for investors to get loans from? preferably good terms with amortizations of 25 years or more with minimal fees. let me know. Thanks!

Does anyone have any local banks in the DFW area they recommend for investors to get loans from? preferably good terms with amortizations of 25 years or more with minimal fees. let me know. Thanks!