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?

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.

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.

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

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

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."

Brad 20k or anyone else

enlighten us on why the change from

duration of the lease

TO

for duration of occupancy

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.