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Updated about 8 years ago on . Most recent reply

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Lamont Pelaez
  • Real Estate Investor
  • Saint Petersburg, FL
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Tenants need 5 day extension buying a bouse

Lamont Pelaez
  • Real Estate Investor
  • Saint Petersburg, FL
Posted
I have tenants whose lease is up on the 26th of this month. Their closing date is supposed to be the 19th for the new house they are buying but might get pushed back to the 26th. They would like to know if they could have a 5-day extension in the event that the closing gets pushed so they will have time to pack up, clean up, and move out. I'm not opposed to it but want to make sure that I am doing it the right way. Is it as simple as having them sign a 5-day extension with a prorated amount of rent or is there another option? Thanks in advance!

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied

I'm with @Deanna McCormick: ask them to sign through the end of the month. If they are out earlier, great. If they need extra time for moving or cleaning, you have it.

A one-page, short addendum would suffice. Be sure to spell out the prorated rent for the extra days and their specific move-out date. Require payment up front, in full, at the time of signing.

  • Nathan Gesner
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