State Specific Question About: NEW MEXICO (NM)

Yesterday I had appointments with 3 prospective tenants who were interested in my house to rent.

Prospective Tenant 1 called and asked to be the first to view the house I have for rent in New Mexico. I agreed and scheduled the time. They liked the house, signed the contract, paid rent, paid deposit and I gave them the key. I cancelled my appointments with Prospective Tenant 2 and 3..

The following day the new tenant changed their mind and wanted to cancel their lease. I told them they would be responsible until I get the unit re-rented. I told them I would advertise and continue to show the property to get it rented.

I immediately called Prospective Tenant 2 who rented another property the day I cancelled their appointment. Tenant 3 is interested but not wanting to move in until the end of the next month.

What are my legal rights of holding them responsible until I re-rent the house.

Normally, I'd hold them to the terms of the contract. What does the contract say?

I did have one situation where I returned their money and canceled our contract. She lived on the east coast. Her husband was a contractor in Afghanistan. She was driving to TX to be close to his family. MIL found the house for her, texted her tons of pictures, she loved it.

She pulled up the day of the signing after a three-day drive, toured the house for the first time, and cried. She tried not to cry while we went over the lease, etc. She had just come from an 1800/mo house twice the size of mine... her brand-new top-of-the-line w/d were too big for the utility room... countless little things made the house "beneath" her, on top of the stress of wrangling her kids to a new state with her husband overseas. She kept stating how it was only until they built their dream house on some land nearby.

V [OH] - From what I understand in the post, a holding fee does not apply. Sounds like EM doesn't do a background check (or did one in like 5 minutes) and rented the place out.

Lease was already signed. Rent paid, SD paid, keys given. So, Tenant has now given notice that Tenant is giving back possession immediately. Tenant is responsible for the rent until the place is re-rented and for costs of re-renting. Simple. Get it in writing from Tenant that Tenant has relinquished the property to you. Do the SD accounting in accordance with your state law. Refund prorated rent when you get the place rented again.

Yes, Tenant 1 had already been screened and had filled out an application the prior week. They were interested in a larger home, but changed their mind because of the rent increase to go to a 4 bedroom.

The lease states that if any part of the contract is not meet, they will lose their deposit.

If I rent the property this month, I will return their deposit. If not, I will use deposit for the next month's rent.

In the 25 years I have been renting my properties, this is the first time this has happened to me.

Thank you all for your feedback.

There is a "stupid tax" to pay for one's mistakes. I would have a friendly chat with them. They likely found another rental for $ 50 less. Let's see - maybe the right thing to do is honor the lease they just signed and save hassle and $$s that way.

I had the wife of a Marine go and rent a new place b e f o r e even giving me notice. when I wouldn't let her out of the lease AND return the SD on the spot, she bombarded me with nasty letters and called incessantly.

Some people don't *get* it and you are doing them a disservice by caving in and just letting them get away with this. They will repeat this and one day pay dearly for such behavior.

They need to LEARN from this. This is all part of growing up. (How old are these people?)

Don't cave in unless they lawyered up.

I had one 2 weeks ago, her relative is a lawyer and would do anything to disqualify your lease. My weak spot was at the dated lease disclosure, otherwise, I would have seen them in small claim court.

Been there.

Early Lease Termination Fee to the rescue...AGAIN!!

Resident may pay this one time fee to end the lease early.

Works even in this situation.