All Forum Posts by: Steve S.

Tenants lease is up in a couple of

Months and they said they probably need about 6 months. 

1) does the lease you have them sign expense licotoy speak to the cost orndo you dealnwirh that when the time comes?

2) if they go month to month, how much premium do you charge?

3) if they do a 6 month lease (after the 1 year lease completes) how much premium do you charge?

The tenant has been a good tenant but they are planning to

Move out in January which could leave me with the house open for 4-5 months or someone signing a 12 month lease in January-ish which means the problem (less than optimal)  will co ti is for me with next tenant 

Thanks!

typically, the lease assumes the tenant would pay the full amount remaining. 

If one is able to re-lease the home to a new tenenat, does that absolve the old tenant of remaining rent on the lease they broke?

In other words, are we as landlords incentivized to re-rent it asap to get double rent?

 Thanks.  This is generally what I do as well with a slight twist.

1) security deposit is forfeited

2) they pay rent for the full month in which they move out.  If it happened to be the end of the month, then i have their security deposit to cover any vacancies.  If they move out on the 10th of the month, they've lost the security deposit and have paid for the full month and as soon as i can get someone in there, i either collect double rent or at least am covered for the rest of the month they moved out plus a whole other month.

I don't think i would charge them through the remainder of the lease if they moved out a few months early but may have to evolve my thinking there.  I've not had that happen before.

 Do you charge them a prorated date through the day of the month they leave or the full month?

For example, if they leave on the 10th (breaking the lease early), do you charge 1 month’s rent penalty and 10 days of prorated rent for the last month they are there?

 Thanks for the thoughts. I’m doing some further research online on this 

In general, what is standard operating procedure for terminating a lease early?

I've seen it where 60 days notice is required, tenant pays full amount for the month they terminate in and forfeits their deposit. 

HERE's AN EXAMPLE:

Let's say a 12 month lease terminates September 5th 2018.

Tenant offers 60 days notice on April 12th.   Tenant moves out on the 60th day (let's say that's 6.12)

Monthly rent is $1,200.  Deposit was $1,200 

What is standard for what they would owe?

As you may recall, I have some tenants moving out that cooked extensive Indian food which tends to linger a bit more due to all the amazing yummy spices.

Can you recommend a good carpet cleaner and maybe the same or separate company to give the house that new house smell?

I'm pondering doing a ozone and also putting out the coffee grounds in a bowl etc for several days.  I've got 2 weeks to make this house like new for the new tenants after the current ones move out!

Thanks everyone for the thoughts!  Good ideas i'll add to my list.

I've handled this situation a few times, but I'm looking to up my game.  

Do youhave a checklist of the standard things you do that you could share? (I have a move in checklist if anyone is interested)

Do you meet them to take return of the keys?  (or since you're goign to be changing the locks, do you not get the keys at all?)

Utilities?

CLeaning?  Do you have them handle it or do it yourself and take it out of the deposit?

What are some things you typically have their deposit pay for? (carpet cleaning?  maid service to give it an amazing once over for the next tenant?)

What are your best suggestions?  I'd love to hear them and hopefully we can call learn and get better in the process!

 How long did you run it?

And do you run it for that time period in each room?