All Forum Posts by: Justin Youngblood

I purchased a long term rental property in Jackson MS through a turnkey company a few years ago and I’m needing some advice on how to navigate an issue.

Up until last year things had been running very smoothly with no issues. Things began to go south when the original tenant moved out in the summer of 2023.

In December of 23' the property was inspected by HUD and approved to be a section 8 property. This was after a long delay in even getting someone from HUD out to inspect it. ** this is my first section 8 experience. A lease was signed on 1/4/24 but no payments have been made by HUD yet this year. I have never visited the property and I have a PM in place. I have to stay on top of the PM about communication with me and there's even been months where they haven't sent me a statement. The PM is stating that HUD dept was not responding to their inquiries for updates and payment information. Finally on 4/2/24 the PM got an update from HUD (the document was dated 3/22) that HUD was only going to pay $3 of the $1025 rent and the tenant was responsible for the remaining amount. I find it backwards that they would place a tenant before verifying what amount that HUD would pay. I can't help but feel like I'm getting taken advantage of by the PM.

I'm not sure how to move forward. I haven't been paid rent in months and this tenant is not going to be able to afford this property now so an eviction could be next. The tenant is telling the PM that HUD was approving based on old income and they are going to have it readjusted. Any advice on how to move forward? Should I consult an attorney and if so where would I start?

@Lynn McGeein yes I agree. I do not think forfeiture of security deposit without itemized list is allowed in our state either.

@Nathan Gesner I agree Nathan! They are actually requesting 6 weeks early end to lease (lease ends 1/21/24 and they will be out 12/8/23) but I’ve decided to hold them to the terms of the lease. I have already begun to market the property and they will allow showings until they are moved out. If I find a tenant before their lease ends then I will just prorate their rent once a new tenant is in. If not then they must perform on original terms of lease.

@Lynn McGeein good points Lynn. Thanks for the insight

@Colleen F. Very good point about the closing date. Thanks Colleen!

@Laura Stayton thanks for your input. No they didn’t expect to be let out of their lease they just asked. The rental contract states they are on the hook for the remainder of the lease until I find another tenant so I deferred to the lease agreement.

@Tim Miller thanks for the feedback. Is that 2 month early termination fee spelled out in the contract?

Hello BP!

My tenants of 2 years notified me today that they will not be renewing their lease and they’d like to end their lease early because they are buying a new home. Their lease ends 1/21/23 and they will be moving out at the beginning of December. They have been great tenants (always pay on time and report any issues in a timely manner) and I would like to work with them but I know this is a tough time of year to find a tenant.

The lease states that if the tenants want to terminate early then the tenant “acknowledges and understands that the landlord will use reasonable efforts to re-rent the premises, but that the tenant is shall remain responsible for the performance of all the tenants obligations under this agreement” until the landlord can re rent the premises unless otherwise agreed upon in writing.

How would you handle ending the lease early given this situation? Thanks in advance.

@Nathan G. Thanks for the feedback. When I first accessed the property after she notified me of her termination, she left a key for me to access the property but stated she had an additional key so she did not need it returned. That’s good info to keep in a clause for next time. Thanks again.

@Jeff Copeland good points. She didn’t leave everything. She looks like she is about 1/2 way through the process of moving. I will do as you suggested and consult and attorney.