 Breaking the lease (by Debbie [VT]) Oct 5, 2009 9:15 PM
 Breaking the lease (by MrRational [MD]) Oct 5, 2009 9:28 PM
Breaking the lease (by Debbie [VT]) Oct 5, 2009 10:52 PM
Breaking the lease (by Reid [KS]) Oct 6, 2009 12:57 AM
Breaking the lease (by Virden [OH]) Oct 6, 2009 6:02 AM
Breaking the lease (by jawja [GA]) Oct 6, 2009 7:03 AM
Breaking the lease (by billy [MA]) Oct 6, 2009 7:10 AM
Breaking the lease (by Lynx [GA]) Oct 6, 2009 7:47 AM
Breaking the lease (by Rentitnow [ON]) Oct 16, 2009 1:37 AM
Breaking the lease (by Debbie [VT]) Posted on: Oct 5, 2009 9:15 PM
Message:
State Specific Question About: VERMONT (VT)
I believe through discussions my tenants who signed a one year lease have made an offer to purchase a home. I am new to landlording and I did not include a buyout clause in my lease. Is there any action I can take to recover the money I am going to be out or take this as a lesson learned and include a buy out clause next time. If they are truly going to be gone within 90 days. I would like to post the unit now. They are being vague, but at the same time have implied their intent to break the lease.
Please advise. --70.193.xxx.xxx |
Breaking the lease (by MrRational [MD]) Posted on: Oct 5, 2009 9:28 PM
Message:
job one is to find out if they're just looking and hoping to buy or if they maybe even a contract accepted somewhere; then it's if financing is approved. If you haven't heard from a lender it hasn't gotten that far yet.
if they're really serious as buyers then you have to sit down and have a chat with them.
Even without a buy out clause you can still offer them one now. Point out how hard it is to rent in mid winter even with great advertising and that WHEN the unit doesn't re-let... they will continue to be liable until it does.
Talk turkey like a "dutch uncle":
"kids, I'm not tryin to be a hardazz here... I think it's great you're trying to buy a house... but I do insist that your obligation here to me gets honored too. It's that simple. Now, lets talk about how we can both help each other come out of this whole."
go from there.
--65.127.xxx.xxx |
Breaking the lease (by Debbie [VT]) Posted on: Oct 5, 2009 10:52 PM
Message:
I know they have been pre-approved for a loan and know they are looking. I only suspect they have made an offer. I didn't realize the lender would contact me.
It sounds like at this point I am relying on their goodwill. I would agree it is the right thing to do, but know how that can go at times. --70.193.xxx.xxx |
Breaking the lease (by Reid [KS]) Posted on: Oct 6, 2009 12:57 AM
Message:
Let them know that should they break the lease and not take you up on the offer you are about to make them , they may not be able to get financing if they embroiled in a law suite or if there is a Judgement on their credit report. Then make'em an offer they can't refuse. --70.246.xxx.xx |
Breaking the lease (by Virden [OH]) Posted on: Oct 6, 2009 6:02 AM
Message:
They still have an obligation to your rental amount until the lease has run its course, this could end up as the first lien on the new place when your judgement attaches to the new place - collectible that many times renters have no assets, the house changes that. --76.241.xxx.xxx |
Breaking the lease (by jawja [GA]) Posted on: Oct 6, 2009 7:03 AM
Message:
if you didn't already tell the lender, make sure they know the tenant has a financial obligation with you. --66.56.xx.xxx |
Breaking the lease (by billy [MA]) Posted on: Oct 6, 2009 7:10 AM
Message:
if they are going to break the lease i would ask 1 month extra if its in winter.if they just break it i would sue for my damages.u cant just break a writtten contract without making yourself open to suit. --208.58.x.xx |
Breaking the lease (by Lynx [GA]) Posted on: Oct 6, 2009 7:47 AM
Message:
My lease break fee is 2 mo rent, but I give them their deposit back if no damages and they don't owe me otherwise. --168.29.xxx.xx |
Breaking the lease (by Rentitnow [ON]) Posted on: Oct 16, 2009 1:37 AM
Message:
You can take to court but judge will likely only award you what you are out. In other words if you re rent in one month, you get the one month and some costs.
What i usually do is tell them they have to find another tenant for me. At least this gets their head in a frame of mind that YOU are in control of the situation not them. --69.171.xxx.xxx |
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