Letting a tenant out of a Lease.

[Tyler Warne]

I am in a situation where I have a tenant who has communicated really well about how he will not be able to continue to rent a house, he made last months rent but then told me that he likely wont be able to make the next one. I am considering letting him out of his lease to avoid dissension and destruction. The market is currently renter favorable and the apartment should be easy to rent.  I offered the property to another renter who has been great at making payments but then that renter's place is vacant. Anyone have any similar experience? Looking for advice and/or recommendations. Thanks everyone. 

[Lynn McGeein]

I always try to accommodate a tenant who tells me openly they are not able to make upcoming rent as it is better than having to file eviction.  I have even given back a portion of the security deposit at move-out if they leave the unit quickly, in good shape, and are up-to-date on rent.  It's not ideal, but better than having no rents during the eviction process and ending up with a judgment I likely won't ever collect on.  Make sure they sign an early termination addendum to protect yourself.