Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago on . Most recent reply

User Stats

11
Posts
8
Votes
Kathryn Pierce
  • Naperville, IL
8
Votes |
11
Posts

How to handle overlapping leases?

Kathryn Pierce
  • Naperville, IL
Posted

My short term tenant vacated 2 weeks early (on good terms). Which worked out well because the new long term tenants wanted extra time to move-in. 

I can do an addendum to the new tenant's lease and charge them pro-rated rent for August, but how do I handle the existing tenant's lease? Technically they have the unit until August 31st. Do I do an addendum to their lease, and provide them all of the prorated rent from the next tenant? Is it fair to keep a portion of the prorated rent for the extra paperwork I'm doing? 

Also, the short term tenant was paying a higher rate. So if I was truly prorating their August rent, I'd owe them money. 

This works out well for everyone, but I just want to make sure I'm doing this legally. Thanks!

Loading replies...