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Leases And Tenants - The Spooky Tenant
You, Mr. Landlord are pleased to find qualified tenants for
your rental house. The man and woman sign a one-year lease on
Tuesday.
On Thursday the male tenant contacts you and says they have
changed their minds because his girlfriend thinks she sees "dead
people" in the bathroom.
He expects you to cancel the lease!
What do you do, hire an exorcist?
No, you smile and softly explain... "Listen Bub, that was a
legal contract you signed. It binds both of us to everything
printed on those sheets of paper.... the laws says so, that's
who!
And that's true... both parties must agree to break a legal
contract... it can't be done unilaterally (usually). In this case
the contract is the well prepared, solid gold lease.
Is your reluctant tenant on the hook for an entire year's
worth of monthly lease payments?
It brings a tear to the eye of we hard boiled landlords... but
he probably is not obligated to pay rent for the entire year.
Courts have ruled that the landlord has to make a good-faith
effort to find a new tenant for the unit as soon as possible.
As soon as one is found the original crybaby is released from
the contract.
The cost of renting to the new tenant can be deducted from the
security deposit you collected from Mr. Crybaby. That includes
advertising and a copy of The Grinch Who Stole Christmas you give
him as a go-away gift.
About The Author -
Mark Walters is a real estate investor and author. His
published works can be found at his web site... http://www.CashFlowInstitute.com
MORE RESOURCES:
Tips for Buying Tech in a RecessionSmall Business Computing - 13 hours ago"With fewer customers qualifying for leases, leasing will decline," he predicted. Also, less-advantageous leasing terms mean that some credit-worthy ... |
Utah public lands seen as holding "promise"SmartBrief, DC - Dec 1, 2008The nearly 500 square miles of public land in Utah being opened up to oil and gas leasing is an "an area of growing promise," says API senior policy adviser ... |
Offers Erode for Land Rich in ResourcesistockAnalyst.com (press release), OR - Nov 30, 2008The bottom has dropped out of sale and leasing offers to property owners sitting above huge deposits of natural gas in Western Pennsylvania, ... |
News Briefs - 11/10Daily Record (subscription), MD - Nov 11, 2008She “will be responsible for administering leases, leasing space to new retailers, supervising and directing personnel, and preparing the annual budget for ... |
GM trims its corporate jet fleetDetNews.com, MI - Nov 21, 2008The automaker started the year leasing seven aircraft. It turned in two in September and is in the process of turning in two additional aircraft, ... |
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