 Collecting rent twice (by Karen [MS]) Mar 11, 2009 8:09 AM
 Collecting rent twice (by Brian [MO]) Mar 11, 2009 8:11 AM
Collecting rent twice (by Wallace CPM [VA]) Mar 11, 2009 8:18 AM
Collecting rent twice (by Ellie [IL]) Mar 11, 2009 8:44 AM
Collecting rent twice (by Lynx [GA]) Mar 11, 2009 8:46 AM
Collecting rent twice (by allin [VA]) Mar 11, 2009 8:48 AM
Collecting rent twice (by shelly [MS]) Mar 11, 2009 8:51 AM
Collecting rent twice (by Laura [KS]) Mar 11, 2009 9:52 AM
Collecting rent twice (by RR78 [VA]) Mar 11, 2009 11:15 AM
Collecting rent twice (by pmh [TX]) Mar 11, 2009 4:58 PM
Collecting rent twice (by RR78 [VA]) Mar 11, 2009 7:12 PM
Collecting rent twice (by pmh [TX]) Mar 12, 2009 5:05 PM
Collecting rent twice (by RR78 [VA]) Mar 13, 2009 5:18 AM
Collecting rent twice (by Karen [MS]) Posted on: Mar 11, 2009 8:09 AM
Message:
State Specific Question About: MISSISSIPPI (MS)
If a tenant has been transferred out of state and they have paid out the balance of their lease, is it possible to release the property and collect the rent again for the same time frame? Do I have to refund the money to the previous tenants? Thanks.
--75.65.xxx.xxx |
Collecting rent twice (by Brian [MO]) Posted on: Mar 11, 2009 8:11 AM
Message:
No, you must refund the old tenant. --205.188.xxx.xx |
Collecting rent twice (by Wallace CPM [VA]) Posted on: Mar 11, 2009 8:18 AM
Message:
You can't collect double rent --205.188.xxx.xx |
Collecting rent twice (by Ellie [IL]) Posted on: Mar 11, 2009 8:44 AM
Message:
I agree with Brian and Wallace. You did not have a case of having a buyout with a termination fee to cancel the lease. You have a tenant who has prepaid rent for the remainder of his contract.
A lease buy-out is an agreement between landlord & tenant that the tenant will pay a certain amount of money to have their tenancy canceled prior to its scheduled termination date. Under that circumstance, usually there is no remaining obligation after that, and normally there's a document signed upon the buy-out which will contain that provision.
--208.94.xxx.xxx |
Collecting rent twice (by Lynx [GA]) Posted on: Mar 11, 2009 8:46 AM
Message:
No, you can't double collect for the same rent, but here's what you can do. I have written into my lease that an alternative option is a "lease break fee" of 2 months' rent by mutual agreement. It clearly states that, since damages are hard to predict, this amt is "liquidated damages" and not refundable even if the property is rented. Tenant has choice of this or being responsible for the balance of the lease if property is not rented. In other words, tenant can take the risk that property won't be rented and they will owe for the whole lease or thay can pay a "fee" equal to two months' rent and be done with any responsibility for the lease. If they choose the fee and I am lucky enough to get it rented quickly, I collect rent plus the fee. I don't know that this has been held up in court but I don't know that it has been thrown out either. I assume that consenting adults can enter this contract. If I'm wrong someone can let me know. --168.29.xxx.xx |
Collecting rent twice (by allin [VA]) Posted on: Mar 11, 2009 8:48 AM
Message:
Did the tenant move out? Do you have possession? --146.165.xx.xx |
Collecting rent twice (by shelly [MS]) Posted on: Mar 11, 2009 8:51 AM
Message:
"it possible to release the property and collect the rent again for the same time frame? Do I have to refund the money to the previous tenants? Thanks."
you have to refund them the money, and you cannot collect double rent as stated above; what part of ms are you from ?
--74.240.x.xx |
Collecting rent twice (by Laura [KS]) Posted on: Mar 11, 2009 9:52 AM
Message:
Be very careful. Many (although not all) state landlord tenant laws require that the landlord advertise the property for rent and make a valid attempt to mitigate damages. It is important that you try to secure new tenants and keep records to demonstrate your efforts. Additionally, some states will not allow "liquidated damage" clauses, either. Kansas is one of them. If a landlord ends up in court, he/she may have trouble trying to convince a judge that money collected under such a contract was actually "earned" by the landlord under the terms of the lease. If you are unsure how local judges are deciding such matters in the state/county/city where the rental property is located, it will be best to speak with an experienced landlord tenant attorney who practices law in the same area where the rental property is located. It is also possible to look up case law at the local law library to find out. --216.175.xxx.xx |
Collecting rent twice (by RR78 [VA]) Posted on: Mar 11, 2009 11:15 AM
Message:
Thats why if you even think you stand a chance of double rent, you call it a buy out and offer a minor discount so the amount is not exactly the same. That way not considered getting paid for rent twice. Its a buy out --71.127.xxx.xxx |
Collecting rent twice (by pmh [TX]) Posted on: Mar 11, 2009 4:58 PM
Message:
it is buy-out. can anyone here cite any laws where rents have to be refunded ?
no.
gig em Karen. --97.94.xxx.xxx |
Collecting rent twice (by RR78 [VA]) Posted on: Mar 11, 2009 7:12 PM
Message:
Unjust enrichment. More of a legal principal.
pmh - Any fair honest person should know this.
And of course each Judge is different but most dont like it.
Also lets say if a tenant did break a lease and move and you are able to rerent. Of course you would be able to collect any cost to re-rent. But at least in my courts a judge would not let you win a claim against old tenant for rent you collected from a new tenant for the same month.
Just because you already have collect the money would not change this.
--72.82.xx.xx |
Collecting rent twice (by pmh [TX]) Posted on: Mar 12, 2009 5:05 PM
Message:
RR78
I'll ask the question again.......... --97.94.xxx.xxx |
Collecting rent twice (by RR78 [VA]) Posted on: Mar 13, 2009 5:18 AM
Message:
As a law professor once said.
The definition of law.
Law = what the Judge said
In this case my area Judges would say no double rent.
--72.82.xx.xxx |
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