End of Tenant Leasw

[Web A.]

Hey BP.

Landlord out of NJ. If a tenant’s lease ends in the middle of the month (say the Feb 15th 2021) & you’ve already decided you won’t renew their lease, do we prorate the rental amount & have have them pay half the rental amount of the last month or extend give them an option to stay until the end of the month in the non renewal letter in order to collect the full last months rent?

There’s a few things to consider which is time to show the property, time for small cosmetic repairs, and etc to get new tenants in as quick as possible.

What are your thoughts BP?

[Nathan Gesner]

There's no right / wrong way. If a tenant moves in mid-month, I let their lease end mid-month. They pay a prorated rent, due on or before the first day of the month, and then move out on the scheduled day. I turn it around and get a new renter as quickly as possible. If their lease ends on the last day of the month, I follow the same protocol.