Updated almost 11 years ago on . Most recent reply
Return the Deposit
To keep this brief, I will simply highlight that a tenant agreed to another 6 month lease beginning in January 2015 (agreed via text...perhaps not the most legally binding, but nonetheless). They decided to move this month after giving me 30 days notice, and I didn't mention the 6 month lease at that time (for fear they wouldn't pay their rent as a way of utilizing their deposit for rent). So, they broke the lease 3 months early. Rent is $1350 a month. Disregarding damages and a few other issues at the property, does the single fact that they broke the lease entitle me to keep entire deposit? (essentially they owe 3 months rent, for a total of $4050.) Thanks for the help.
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#1 Questions About BiggerPockets & Official Site Announcements Contributor
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I know it can be tough to be tough with a tenant. It is human nature to want everyone to like us. But owning rental property is a business, and you should treat it as such.
BP is an awesome resource. NoNonsenseLandlord.com is another one. Eric writes for BP, and has a no-nonsense approach to rentals. He really tells it like it is, and while he may seem harsh, he doesn't have much hassle in his rentals.
