The lease was signed by all parties back in July 2019. I have an issue with tenants (they co-signed the lease and now aren't getting along). Everything else seems to be filled in, just not those two fields. Honestly, I signed the lease as the property owner without noticing that those fields were missing, so that's on me; but it should have never gotten to me with the term being defined. Crazy.
What's more concerning is that I actually had to fire Renter's Warehouse in December because they were awful about managing the property - bad communication with both me and the tenants, bad service request performance, lack of detail on service costs. So they are no longer the management company; I am acting as the landlord. I have not pointed out the missing info from the lease to the tenants yet; I want to know where I sit from a legal perspective first.
My questions for the group is (preferably anyone who is an attorney in this field):
- Is the lease even valid without a term or an expiration?
- What liability do I have?
- What is Renters Warehouse liability?
@Joseph Parker when was their lease term supposed to be up? Are they wanting to move out?
Cheapest option for everyone is to negotiate with the tenants to move out (if they want to do so). If some tenants want to stay and one wants to leave, verify the remaining tenants can meet your requirements (income) to pay the rent. Then, sign a new lease with a lease end date on the agreement.
Avoid getting attorneys involved. Try to find a win-win and move on. Lesson learned. Triple check legal documents before you sign them.
Spoke to an attorney friend - basically as long as there's no disagreement for when all parties understood the lease to end, there's not a lot of legal risk. I think I have everyone in agreement to end the lease early (60 days from now, which is also 2 months from the 'end' of the term. The lease that's in place is in effect as a month-to-month so the protections still apply for landlord and tenants, which is good. I was worried that the whole thing would be null.