All Forum Posts by: James Hsia

The tenants have actually been a pain to deal with, extremely demanding and had a few run-ins with late rents. Deep down I want them out, but I think it also terrifies me to have the place vacant. This experience was humbling and sometimes you learn things the hard way.

Originally posted by @Amy Beth:
@James Hsia. I would consider this a blessing that he is leaving on his own since you locked yourself into a below market lease for five years. I would find a new tenant ASAP at market rate and only allow a one year lease. A five year lease benefits the tenant more than you since they will leave if they want to and you would not be able to force them out before the lease ends unless they violate the terms of the lease and you evict them.

Fantastic write up @Jon Holdman, appreciate the advice!  

@Jon Holdman

@Matt K. They are technically on hook for the entire lease term, but unless I take them to small claims court (which I am trying to avoid). Given the laws in California, the most likely outcome is to get them out of the unit and charge them for fees associated of replacement. We set the rent just slightly below market given the long term lease agreement, something I terribly regret.

We were thrilled to find a tenant in California who was willing to sign a long term lease due to a project he was working on. The caveat was the rent was set at below market and fixed for the 5 yrs (rookie mistake). The tenant just informed me he is planning to quit his job and will be breaking the lease. At this point what are my rights as a landlord? Do I have the right to keep his entire security deposit? Any suggestions or tips will be much appreciated!