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Re: Early Termination Fee? - Landlord Forum thread 334114

Re: Early Termination Fee? by Anonymous on April 25, 2015 @21:50

                              
Yes, you can add a late fee to your lease for use with a new tenant. I charge 2x rent plus $300 as a single sum for my early termination fee. That differentiates the amount from the SD so tenant's don't assume they can use the SD as the ETF. Because it is a fee, in my state I'm allowed to collect it without regard to how long the vacancy lasts. I've collected 3x this year due to tenant's leaving early. In the case of a long-term tenant, I usually work with them to get the unit re-leased with no gap in tenancy and when I can do that, I will waive the fee, although I don't have to.
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