All Forum Posts by: Shitij Agrawal

Thank you Everyone..

@Theresa Harris
My PM and me personally looking to rent it out but Unfortunately did not get any application. The only one application we got were from students which is against condo trust policy. We are actively looking but yet not successsful. 

@Mindy Jensen, unfortunately, She has not been able to place anyone. It is surprising for me as well. I still have Security deposit and can I keep it or need to return it( Property is in good condition). I understand that I may not get another rent from the tenant but also wanted to see what can I do with Security deposit...

@Derreck Wells, It is mentioned in the terms of the lease that he is liable to pay for remainder of the lease. He has paid till August and Have not paid later. Can I use Security deposit payment for later months payment or need to return it back..

Thanks

Shitij

Thanks Bryan, He has not yet retuned the Keys but likely giving at the end of September. As he had vacated the Condo end of August , my manager has checked ( I moved out of state) and it is in good condition. 

I am new to investing and became a investor by renting my own condo in Boston. I have a property in Boston and My tenant had renewed his lease and then broke within a month of renewal. He had rented the Condo on June 14 2018 for ending on June 30 2019. He renewed the lease in April 2019 ( for period of 1 year from Jul1 2019 to Jun 30 2020).  He sent us the letter for breaking the lease on July 13 2020 and According to my property manager that he understands his responsibility for 1 more year and we communicated that we will be holding him responsible only till we find another tenant. He paid us till he was in the property till Aug 2019. 4. He had last month rent and security deposit with us. It is still in escrow account. 5. We had communicated that he is liable for rest of the year. We have sent reminder for rent in sept but instead He sent a letter demanding security deposit .
Questions and what I am hoping for?1. How can I ask him to pay for the rent for remainder of the term? what are the odds with this? 2. Do I have to return the security deposit? 3. What are my role if I decide to sell the property instead of renting another term? Thank you everyone for guidance