One of the tenants filed bankruptcy, what should I do?

[Jason Vo]

I have a co-tenant leased my property. One of them moved out and filed bankruptcy chapter 7 months ago without noticing, the other one still occupied and been paying monthly rent on-time. Should I terminate the lease and create a new one with the remaining tenant or just keep the current one until it expired?

[Nathan Reed]

I personally would just keep the one you have until it expires and then in order for him/her to renew he/she would have to pass my tenant income qualifications. Tip: If you go this route let the tenant know well in advance so that if he/she won't meet your criteria he/she will have time to find another place to live.