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Updated over 9 years ago on . Most recent reply

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19
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John Kai
  • Investor
  • Las Vegas, NV
3
Votes |
19
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Tenant breaking lease

John Kai
  • Investor
  • Las Vegas, NV
Posted
My tenant just informed us that they were terminating a 2-yr lease with 10 months remaining on contract. We have a signed, executed lease agreement and did not mutually agree to terminate lease. The monthly lease was $3,500 and this translates into $35,000 in lost revenue. In the state of Hawaii, I have a duty to mitigate my losses by re-listing the property once I have possession on Dec 13th. If I am successful in finding a new tenant, I can then sue for damages, losses, expenses and including attorney fees. Any thoughts or issues that I should be aware of that I might not be thinking about? Your help and input is appreciated. Aloha and Happy Holidays! John

Most Popular Reply

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1
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1
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David Meyer
  • Denver, CO
1
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1
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David Meyer
  • Denver, CO
Replied

Is there nothing in your lease about breaking the lease? In my leases I have a clause that entitles me to two months' rent. That being said, they can leave any not pay rent and trying to sue for damages is a pain. 

Many times I've just told my tenants that I'll waive the 2-month break-lease fee is they're willing to help me find a new tenant. It's worked every time I've taken that approach. 

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