Even with FIXED TERM LEASES * Landlords need a LEASE BREAK Procedure

I L♥VE my fixed term leases.  They are the norm in our area with UVa students renting by the school year; families wanting to stay in designated school districts AND area new-hires wanting to stay "put" and not move for a year.

Unfortunately, LIFE gets in the way sometimes....new employment, military deployment, work transfers so I have devised a re-leasing plan to benefit owners and residents.

Option #1 * Residents can secure their own replacement residents and I will charge a $400 lease re-write fee for qualified applicants.  They can download application forms in pdf format from my website and I'll provide residents with my marketing photos and floor plans for them to post ads on Craigslist. 

Option #2 * I will secure new residents at my normal leasing fee.  Residents must pay my leasing fee up-front as I will not take those monies from their security deposit which is held for my clients' benefit.

Option #3 * I have just started to utilize this with some success * Residents vacate, pay 2 months rent AND I keep their security deposit and give them a "mutual" release.  I work to get the property re-rented AND I take my leasing fee from the monies on hand and my clients keep the remaining money or I use it to upgrade the property by re-painting, etc.

BEST case scenario, my clients do not have to pay a leasing fee for new tenants and a LONGER term lease.  WORST case is that I work for FREE to get the property re-rented for my clients.

So far, #3 is working quite well and I am getting longer term leases for clients and making some $$$ in the bargain! 

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.
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