Renter of otherwise good standing (made all her payments) tells me suddenly she is musing about moving into a bigger apartment at end of lease, so she can accomodate her boyfriend. Lease is up Dec 1st. But, pledges to stay to complete lease.

Predictably, within two weeks she's now wanting to leave at end of the month.

I get the 'lets talk on the phone' where she says "only if you say its OK.... I would like to leave early and I can forefit my deposit".

I told her to send an email to that effect saying specifically what she was planning to do, and what she was consenting to.

IMO, this is potentially a lose-lose. Landlord doesn't make any money, as the forefitted deposit is split between damages and covering the vacancy time while I do clean up, repairs and find another renter.

Not to mention once she understands her deposit is forefitted, it'll be, 'whelp, not like I'm getting any deposit back anyway' and the place will be potentially wrecked.

And any agreement like this forefits their lease obligations. Thoughts??

What does your lease say?

Ours says you you must pay the rest of the contract.

Soon our contracts will offer that option OR the ETF. They also must give 30 days notice if leaving.

You have to do what your lease says.

Not a lose-lose situation.

J,

For years I have been preaching Early Lease Termination clause for every lease. NOW you wish you had added it!

You are right, withpu this fee the LL loses.

Deliver a letter TODAY stating STANDARD POLICY: Early Release Fee $______Resident may pay this one time fee to end the lease early and not be loable for the remaining months of the lease.

Set the FEE at a figure 2 times the rent.

You need to keep the deposit to cover cleaning and repairs that are the unknown until she is out. We normally use most or all of their deposit for cleaning and repairs.

I WILL apply any remaining deposit to the ERF.

Her other option is to ride out the lease. She COULD pay the remaining months now and leave now.

Caution: I suspect she already lives with Romeo and most forget to move out their stuff.

Early termination fee. This has been discussed many times. Do a search and find all the details. Brad's summary above is a good start. Add this to your lease for all future leases. For this situation, offer it as a "standard way we do business."

Do not go the "forfeit deposit" route. You've already seen why that doesn't work. She needs to have skin in the game, and you need to be fairly compensated.

Thing is - the ELT (once she thinks about it) won't really do much for HER - she would pay 2x the rent amount, need to give 30 days and pay that rent as well (at least, that's how it is in my lease). This is September ... so in NY the 30 days would START Oct 1st and end Oct 31st. THEN she would be paying 2x the rent (in her mind, November and December).

If her lease is up on 12/1 (not sure if that means she's OUT then or that's the month it ends ... either way she's going to think she's paying through the end of the year. That's just not going to happen for her.

I would tell her she needs to give you proper notice (what's your lease say and what is your state's law) ... and follow your lease (as well as the law or at least KNOW it). Then just move forward.

She can give you notice to break the lease if she wants. Make sure that you have the discussion with her about moving EVERYTHING OUT, CLEANING EVERYTHING OUT and this will only help HER to help YOU get it flipped as quickly as possible.

Well an update on this situation.

The tenant finally sends me the letter as I asked explaining her situation in writing.

She informs me she's already signed a lease with another apartment, starting October 1st! Without even getting consent to abandon her current lease.

She says the 'landlord couldn't wait' and it is 'a great apartment closer to work'.

She says she plans to stop making payments for rent immediately and will forefit her deposit as an 'offering', and can be completely moved out by the end of October 1st.

Knowing this renter, I have every confidence that she is just going to pack up her bags and 86 the premises by the 1st, and this is typical behavior where she does first and waits to see if anything happens.

What I don't like about the arrangement she's dictated is it leaves the landlord with virtually no notice, and/or recompense for potential damages to the premises.

I see the ELT (Early Lease Termination Fee) which I don't have, and possibly a good idea for the future. My lease, which we both signed, states the renter is liable for the full balance if they leave early...... doesn't this give more leverage, and what is the use of having it if there is an ELT clause?