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Updated over 9 years ago on . Most recent reply

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240
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Jimmy S.
  • Investor
  • lehigh valley, PA
23
Votes |
240
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Would you keep last month and securtiy from tenant?

Jimmy S.
  • Investor
  • lehigh valley, PA
Posted

Tenants are getting a divorce and will be moving out 7 months early and breaking the lease. I specifically told them before moving in if they break the lease they would not get their security or last months rent back. I will be out at least 1 month rent minimum from them, moving out early. I kind of feel bad for her since they are getting a divorce she seems to try and is honest.

Would you keep the last month rent and also their security deposit? They are good tenants but with that said they are moving out. I was thinking giving them a couple hundered back if they leave peacfully and clean the place as it was when they moved in.

Most Popular Reply

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4,441
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2,911
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Bill S.
  • Rental Property Investor
  • Denver, CO
2,911
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4,441
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Bill S.
  • Rental Property Investor
  • Denver, CO
ModeratorReplied

@Jimmy S. you can't just "keep" an SD. Apart from language in your lease stating that SD and last month's rent are forfeited for breaking lease you must rerent and return all that is not used to offset lost rent. You must diligently try and rerent. If you rerent and find a paying tenant tomorrow. You must return it all. Again you canNOT "keep" an SD. It must be used to offset costs and you must provide an accounting of that within the terms (usually 30 days) of your state laws. Perhaps a Pennsylvania PM will chime in with the specific requirements.

  • Bill S.
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