Tenants getting divorce
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Tenants getting divorce (by Jingmei Monihan [MA]) Jul 31, 2012 9:28 AM
       Tenants getting divorce (by Moshe [CA]) Jul 31, 2012 9:35 AM
       Tenants getting divorce (by Ken [NY]) Jul 31, 2012 10:06 AM
       Tenants getting divorce (by Andrew R. [UT]) Jul 31, 2012 10:39 AM
       Tenants getting divorce (by Reid [KS]) Jul 31, 2012 11:56 AM
       Tenants getting divorce (by Steve [IN]) Jul 31, 2012 1:31 PM
       Tenants getting divorce (by Steve [IN]) Jul 31, 2012 1:31 PM
       Tenants getting divorce (by BRAD 20,000 [IN]) Jul 31, 2012 10:03 PM
       Tenants getting divorce (by mike swmo [MO]) Aug 1, 2012 7:09 AM
       Tenants getting divorce (by Steve [IN]) Aug 1, 2012 8:01 AM
       Tenants getting divorce (by Jingmei [MA]) Aug 1, 2012 9:21 AM
       Tenants getting divorce (by Steve [IN]) Aug 1, 2012 11:23 AM
       Tenants getting divorce (by Steve [IN]) Aug 1, 2012 11:23 AM


Tenants getting divorce (by Jingmei Monihan [MA]) Posted on: Jul 31, 2012 9:28 AM
Message:

I have heard through the grapevine that my tenants are getting a divorce. My concern is that the wife has no employment and she is staying in the house with the kids. If they both sign the new lease (it renews on 1st of month), is that good enough? Are they required to tell me of the new situation? Should I run a new credit check, etc before resigning for a new year?

They are fine tenants and things look OK now, but I am just concerned about the divorce becoming contentious and the husband deciding he doesn't want to pay the rent anymore. --24.233.xxx.xxx




Tenants getting divorce (by Moshe [CA]) Posted on: Jul 31, 2012 9:35 AM
Message:

If they both sign the new lease (it renews on 1st of month), is that good enough? YES

Are they required to tell me of the new situation? NO

Should I run a new credit check, etc before resigning for a new year? YOU CAN EXPECT possible credit problems later on.

--96.247.xx.xxx




Tenants getting divorce (by Ken [NY]) Posted on: Jul 31, 2012 10:06 AM
Message:

I would act like I don't know about the pending divorce and have both sign the new lease and update employment for my files. --72.224.xx.x




Tenants getting divorce (by Andrew R. [UT]) Posted on: Jul 31, 2012 10:39 AM
Message:

My inherited tenants divorced. 2-3 months later I had them both sign MY lease. The husband was willing to sign even though he did not live there. I did not care about a credit/background check of the wife. I only care if I get the rent or not. If I don't, I evict. If I do, I'm happy. The father of the woman made 6 monthly rent payments and now the woman has a job. The husband will most likely be paying child support.

In my situation, I wanted to avoid turnover costs because I already raised the rent with them by $20 and they were okay with that. I have already started to max out the potential rent in my area/market so turning over the unit with a much higher rent was not a possibility.

If you run a credit check and you don't like what you see, then you'll have to kick her out. If you don't run a credit check and keep her and she does not pay, you still have to kick her out. --168.178.xx.xxx




Tenants getting divorce (by Reid [KS]) Posted on: Jul 31, 2012 11:56 AM
Message:

Gossip is often WRONG. If they both sign a new lease they are both responsible whether together or apart. --108.238.xxx.xxx




Tenants getting divorce (by Steve [IN]) Posted on: Jul 31, 2012 1:31 PM
Message:

"Jointly and severally responsible for rent each month for the duration of the lease." That clause will ferret out their true intentions and capabilities.

In this case, a month-to-month clause will probably clobber you. Instead, try to get a year lease or one that renews in springtime. imho --50.102.xx.xxx




Tenants getting divorce (by Steve [IN]) Posted on: Jul 31, 2012 1:31 PM
Message:

"Jointly and severally responsible for rent each month for the duration of the lease." That clause will ferret out their true intentions and capabilities.

In this case, a month-to-month clause will probably clobber you. Instead, try to get a year lease or one that renews in springtime. imho --50.102.xx.xxx




Tenants getting divorce (by BRAD 20,000 [IN]) Posted on: Jul 31, 2012 10:03 PM
Message:

Jingmei, put them on your WATCH list. Keep a close eye on them and do not let them fall behind AT ALL.

Do not allow their drama to become your problem.

Our lease automatically renews. Get your's renewed by both now. If they ARE divorcing, they will probably keep quiet and sign anyway. Be certain to get BOTH signatures.

Do NOT add to the gossip. Quietly take care of YOUR business and respect their privacy. Gossip is just that, GOSSIP. The Bible condemns gossip.

Divorce can take a long time and does not always happen.

Whatever happens, prepare for changes. At least you have a warning here. Most just skip.

Steve, change your clause to "for duration of occupancy by any party listed."

--50.129.xxx.xxx




Tenants getting divorce (by mike swmo [MO]) Posted on: Aug 1, 2012 7:09 AM
Message:

Brad 20k or anyone else

enlighten us on why the change from

duration of the lease

TO

for duration of occupancy

I am a little dense i guess --216.41.xxx.xxx




Tenants getting divorce (by Steve [IN]) Posted on: Aug 1, 2012 8:01 AM
Message:

Brad, I must stick to my original claim. If changed as you suggest, when one leaves then the other is holding the bag for the rent.

Hold them both responsible for the rents; regardless if one one moves. This essentially creates a co-signer status for the one who leaves. They may not like it, but so what? If the one that stays can't afford the rent, why keep them there?

If they can only afford the rent together and one of them leaves, the one that remains will become a big hassle full of stories about why they can't pay the rent. This will translate into you eating at least one, probably two, and maybe even more months of rent you don't get paid.

Jointly and severally holds them both responsible for getting you your monthly paycheck; and that is what's most important. --50.102.xx.xxx




Tenants getting divorce (by Jingmei [MA]) Posted on: Aug 1, 2012 9:21 AM
Message:

Thanks so much for the advice. I had them both sign the new one year lease and added Brad/Steve's line. I used "duration of occupancy (and lease) by all parties listed on lease" I figure that covers both issues--in case they try to get out of the lease early or one party tries to recuse themselves from the terms of the signed lease. I'm relatively new to the landlord world so this site is a gold mine--thanks for being so willing to advise. --24.233.xxx.xxx




Tenants getting divorce (by Steve [IN]) Posted on: Aug 1, 2012 11:23 AM
Message:

Jimgmei - don't complicate things. I just put "All residents (and co-signers if applicable) are jointly and severally liable for rent payments in full each month." Just leave it like that. The "by all parties listed on the lease" is already implied by the signatures on the lease. --50.102.xx.xxx




Tenants getting divorce (by Steve [IN]) Posted on: Aug 1, 2012 11:23 AM
Message:

Jimgmei - don't complicate things. I just put "All residents (and co-signers if applicable) are jointly and severally liable for rent payments in full each month." Just leave it like that. The "by all parties listed on the lease" is already implied by the signatures on the lease. --50.102.xx.xxx





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