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General Landlording & Rental Properties

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Juan Ayala
  • Investor
  • Battle Creek
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Corby Goade
  • Investor
  • Boise, ID
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Corby Goade
  • Investor
  • Boise, ID
Replied Jul 21 2023, 11:00

The best advice I can give you is to get a lease from your real estate attorney. It will be one of the best investments in your business you can make. 

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied Jul 22 2023, 06:06
Quote from @Juan Ayala:

What is the provision I should place in the lease for a tenant who breaks the lease?


There should be a process/penalty for terminating early. I require Tenants to give 30 days notice, pay a one-month early termination penalty at the time of giving notice, and they have to let me advertise/show the rental during their final 30 days.

  • Property Manager Wyoming (#12599)

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Juan Ayala
  • Investor
  • Battle Creek
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34
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Juan Ayala
  • Investor
  • Battle Creek
Replied Jul 24 2023, 04:01
Quote from @Nathan Gesner:
Quote from @Juan Ayala:

What is the provision I should place in the lease for a tenant who breaks the lease?


There should be a process/penalty for terminating early. I require Tenants to give 30 days notice, pay a one-month early termination penalty at the time of giving notice, and they have to let me advertise/show the rental during their final 30 days.


Please give the wording to place this provision into the lease.

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied Jul 24 2023, 05:19
Quote from @Juan Ayala:

I don't know your state law or your lease. Try this guide: 

https://www.doorloop.com/laws/...

  • Property Manager Wyoming (#12599)

American West Realty & Management Logo

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Juan Ayala
  • Investor
  • Battle Creek
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34
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Juan Ayala
  • Investor
  • Battle Creek
Replied Jul 24 2023, 08:20

Thank you this article was great and point me in the right direction for “Early Termination Clause.”