Tenant wants to leave 2 months before lease ends

[Jay Azurin]

Hi,

I have a tenant who wants to leave 2 months before the lease ends.  Apparently they bought a house and asked politely if I was open to letting them out of the lease early.     Unfortunately I don't have a specific section in the lease for "early termination".  But there is a section for "Default" which essentially says that they would be responsible for paying rent until I find a new tenant.    The property is in the Austin Texas area.

This is my first time as a landlord and wanted to get some advise from the pros.  I haven't responded to the tenant yet.

Thank you in advance,

[Brian Corbett]

I allow tenants two options if wanting to terminate the lease early and both options include forfeiture of security deposit:

1. The pay rent until a new lease begins at which time the remainder of their current lease is null and void without further penalty

2. They pay 2 months rent via certified fund upon them returning keys. 

Tenants must allow for marketing and showing the property regardless of option chosen.  

Remember, if they bought a house it is not as if they will have mortgage payments immediately.  Depending on when they closed, they could go nearly 60 days without a payment on their new mortgage.