Tenants move out prior to end of lease.

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Tenants move out prior to end of lease.

Paul F.
Woodbridge, VA · Member since 2021 · 17 posts · 5 votes

Our tenants are purchasing a home and plan on leaving the property before the end of their lease term. They have been great tenants.

Our question: once they move out, do we have access to the property to prep for new tenants?

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  • Theresa HarrisPro Member
    Member since 2019 · 15k+ posts · 11k+ votes
    3y

    Have you received written notice that they are leaving and how does that date correspond to their lease?  Are they paying up to the end of their lease?  Normally if the lease ended Oct 31 (for example) and they were moving out before Sept 30, but willing to pay rent until Oct 31; I'd get their permission to show the house (with 24 hours' notice) in Sept.  If you can find a tenant who will move in before Oct 31, then the new tenant can move in and only charge the current tenant rent for the days it is vacant (eg new tenant moves in Oct 1, current tenant doesn't pay Oct rent).

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  • Peter MckernanBusiness Member
    Residential Real Estate Agent · Irvine, CA · Member since 2013 · 2k+ posts · 1k+ votes
    3y
    Quote from @Paul F.:

    Our tenants are purchasing a home and plan on leaving the property before the end of their lease term. They have been great tenants.

    Our question: once they move out, do we have access to the property to prep for new tenants?


     If you are all good with them leaving early and it's in writing that is perfect, you can enter the property once they move out! The one thing is that if they leave anything read up on your local city/state rules on tenants leaving and how to handle if they do not contact you back about it. Also, if they do leave something and say throw it away always be sure to have that in writing and them signing it. 

    We have done deals where the owner or tenant left there stuff and then come back trying to make us pay for it since we threw it away. 

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    3y

    @Paul F.

    Yes if you confirm they are out and do final inspections then you can have access to the property.

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  • Richard F.
    Honolulu, HI · Member since 2008 · 3k+ posts · 2k+ votes
    3y
    Aloha,

    You gain access when they turn over possession to you. If they return all your keys and provide their new address, just get a handwritten note or an email confirming they turned possession back to you. They are still responsible for however many days rent per contract or local law based on the date of their original written notice of vacating. If they are past the mandatory period, you pro-rate rent for the extra days they had possession. On the other hand, if you get it re-rented prior to the end of that mandatory period, you cannot double dip...you must pro-rate the outgoing and the incoming based on start of incoming term.
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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    3y
    Quote from @Paul F.:

    Our tenants are purchasing a home and plan on leaving the property before the end of their lease term. They have been great tenants.

    Our question: once they move out, do we have access to the property to prep for new tenants?


    You should consider an early termination fee and a process. It's probably too late to educate you or negotiate anything with the tenant.

    My policy is that early terminations must give notice 30 days prior to vacating and pay a termination fee equal to one month of rent. Once approved, they agree to let me market the rental and schedule showings with 24 hours notice. Over 90% of the tenants happily pay the termiantion fee and let me show the rental. And in most cases, I am able to get a new renter under contract before the old tenant leaves, meaning I make more money.

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  • Brittany Perkins
    Property Manager · Cleveland, OH · Member since 2023 · 16 posts · 5 votes
    3y

    Hello!

    If they provide you written notice they have vacated and turned in their keys-  yes, go ahead!

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  • Brandon Heimsoth
    Investor · Maryland Heights, MO · Member since 2016 · 55 posts · 36 votes
    3y

    @Paul F. I would just ask them for access to prep for next tenant. If you get it rented out before there lease is up, you can give them back the rent left on lease. Most will take this offer and you get a 0% vacancy rate.

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  • Paul F.
    OP
    Woodbridge, VA · Member since 2021 · 17 posts · 5 votes
    3y

    Thanks for the insight. We only have verbal notice as of yesterday. We will be sure to get written notice with a move out date.@Theresa Harris They are paying until the end of the lease, only about 1 month difference. I like the idea of showing the house before tenants move out, and giving them incentive to get out in a timely manner, by offering those days rent back if we can get new tenants in there before the end of the original lease term.

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  • Paul F.
    OP
    Woodbridge, VA · Member since 2021 · 17 posts · 5 votes
    3y

    I have another question, Do you find that a vacant house shows better (aka rents more quickly) than a tenant occupied house? and how do you handle the listing? We hired our realtor last year (He charged one month's rent, $2200) to list the property, but that's a big expense to dish out every year. Do most of you list your own homes with success or no?

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