How to handle a Holdover Tenant

Question

John Underwood · Answer

You could prorate it or tell here that if she is there on the first she owes for that month.

If she has been a good tenant I would prorate it.

Robert Bates · Answer

Thanks everyone for your responses, my goal in 2020 is to become a better landlord. I really learn alot when unexpected situations like this happen.

thanks

Nathan Gesner · Answer

Divide the rent by the number of days in the month and charge her per day.

By the way, a "holdover" tenant is one that remains after the agreed termination date, without permission. In your case, the tenant is asking to stay for an additional three days. This is an opportunity for you to negotiate some extra money. Find out what a cheap hotel would cost and meet her somewhere in the middle. For example, a daily prorated rent for your place may be $50 a night but a hotel will cost her $150 a night and she'll have to store her stuff somewhere. So offer to let her stay in place for three additional days at $100 per night and you both win.

For the future, your lease should have a "Holdover" clause that explains what the penalty is when a tenant fails to move out on the scheduled date. My lease says I will charge them 4x the daily prorated rent, through the day of departure. If rent is $1,000 a month, I increase it to $4,000 a month and prorate it for the # of days they stay. If they were supposed to be out December 31st but don't leave until 11am on January 5th then I charge them five days of rent or $645.15.

Ryan B. · Answer

What does your lease say?  My lease says holdover tenants are charged a daily fee that is double the previous monthly rent (again, on a per day basis).

Dennis M. · Answer

Pro rate it based on a 30 day month

Theresa Harris · Answer

@Robert Bates  Do you have another tenant lined up?  Tell her if she stays she either pays the entire month or prorate the rent-but at a higher rate.  If her rent is $900/month, charge her $45/day instead of $29.  It is cheaper than a hotel and you get a premium.

How to handle a Holdover Tenant

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