Timeframe between current tenant and new tenant

Timeframe between current tenant and new tenant by Erica (NY) on June 15, 2012 @01:56

This is an update to a prior thread...I finally landed a great tenant who wants my apartment. Did her credit check and approved her, now waiting for the Board to schedule her interview.

I know this wasn't too smart but what's done is done.li can't afford to lose out on a great tenant who wants to move in for a lease start date of August 1. My current tenants Lease expires July 31st.

One problem - my new tenant just told me her lease expires July 30th and she wants to move in July 31st. She refused to sign a rental binder and place a deposit until she is reassured that the apt will be vacant on July 30.

My current tenant wants to leave by July 20th but just told me the apartment she is moving to wont be clear until July 15 because the people are closing on a house ON July 15th and my tenant is in a holding pattern until she can get a date when the other people will move.

She told me she has no trouble moving out before July 30th (I have agreed to pay her a $$ bonus if she can), but I am afraid she may call me on July 14th with bad news...

I don't know what to do...the new tenant says she won't sign the rental binder until has written confirmation that the apt will be clear by Aug 1. She said she does not want to pay $1500 in storage fees for 1-2 days if my current tenant leaves on July 31st.

What to do? Should I just bite the bullet and offer to pay for my new tenants moving/storage ? Do I just tell my new tenant "sorry I can't guarantee that but if it falls through, I promise to refund your deposit?"

[ Reply ] [ Return to forum ]

Re: Timeframe between current tenant and new tenant by Eloise on June 15, 2012 @09:34	[ Reply ]

In my opinion, a person who is asking for you to guarantee something that anyone with considerable common sense knows that it's not in your hands, is a sign of more trouble to come in the future for maintenance and repair issues. I know that she probably has valid reasons to be concerned about the situation of the move out-move in closeness of dates, but you can not reasonably ask for someone to guarantee 100% that a third party {current tenant}, who is depending on yet, a fourth party {current tenant's soon to be landlord}, to do what they said they would do. Nothing is THAT predictable. All you can do is basically what you said at the end. You can NOT guarantee that, and if it falls through, she can {and is really entitled to} her deposit back. You don't get to have your landlord pay for your move because you were able to convince him/her that the are responsible for your change of plans {needed the apt for 8/1 originally, not the 3s, 30th, etc}. Which, at the end, is in fact what she is doing. You are coming out as desperate, and you are vulnerable to people taking advantage of you, if you can afford $1500 in storage {did you come up with that amount?? Who spends that amount on storage fees?} for 1-2 days, then why is it impossible for you to take that money have the apartment vacant for a couple of weeks {or a month} to really take care of everything that needs to be taken care of and find a good, honest, reasonable tenant? My biggest concern with your situation would be that this person is showing signs of trouble with her unreasonable request that will eventually turn into demands on other little nit picky things. You will have one LONG year ahead of you with a tenant like that. Just my opinion...

Re: Timeframe between current tenant and new tenant

Re: Timeframe between current tenant and new tenant by Micah on June 15, 2012 @11:39	[ Reply ]

I just don't show a unit until it is vacant and has been thoroughly fixed up and cleaned. Of course I've been renovating as I go so I usually have 1-2 months of vacancy to do all the work and find a tenant.

Re: Timeframe between current tenant and new tenant by Anna Mouse (CO) on June 15, 2012 @13:38	[ Reply ]

I think the thing to do is tell her you would love to have her as a tenant however you cannot promise her the property until the old tenant has vacated. :( In my opinion this is the sound business decision to make. I advertised early. Had almost two handfuls of tenants who were interested in the property early and wanting a lease for July 1. Well in calling back the people I spoke to a month ago to see if they are still interested I find half of them have found a place. :( I still have a few, so that is hopeful. Also what it shows me is that I am priced right or still under given the response and that is good information. I refused to show the property because I just didn't want anymore contact with the tenant unless it was necessary. Also a good choice. If you do try to negotiate with this person I would definatly stand firm and state that you have no control what your current tenant will do. You do not want to have a lease with two people as it will create a pickle. It would be bad business for you and they would end up homless. Stand firm with what you know you can promise. Also take this as a good sign that this person who is qualified really wants your place! Tell her the best you can do is set a date to sign the lease on the 21st and that if something changes you will contact her. Also you do realize you are setting grounds on who is in charge. Someone who is that pushy is going to be way way more trouble. I have learned this and am looking at this character in possible new tenants. She is expecting you to promise something you can't. What about when she wants something that she thinks you can say yes to? I agree maybe this one is not right and its a good idea to let her slip away. Seriously look at the stress she is already causing you!

Re: Timeframe between current tenant and new tenant