Hi all ,
One of my tenant wants to end her lease earlier . I will keep the deposit .
Shall I have her sign anything ? If so what's the form called?
You should follow the language in your lease.
For example there is a paragraph in standard PA residential lease "tenant ending lease early" Where it's spelled out how the process will work if the tenant decides to terminate the lease.
If you do not have that language in your lease I'd say have the tenant to give you a written notice and have him/her put in the notice that they will give you their deposit as an "early termination fee". However, make sure if by your local law you can use the deposit for that purpose. Here in PA we can use security deposits only to cover damages made by tenants.
Thank you yuri , that property is in New Jersey , can I put tenant give me a amount of money instead of desposit? Let's say depositnis 1.2k .
Just say she is keqving for 1.2k as lease braking fine.
You should check with an attorney. I think that in case if your tenant decides to get the deposit back you should have proof that you kept it to cover repairs or proof that you have returned the deposit. However maybe a notice from the tenant will be enough.
Got it. Thank you!