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Re: Tenant Ending Lease Early & Proof of Rent Payment - Landlord Forum thread 359777

Re: Tenant Ending Lease Early & Proof of Rent Payment by Garry on October 5, 2019 @10:37

                              
All mortgage companies have their own forms that they send to a landlord asking for info about your renters payments to you. Tell your Ts to have the mortgage comp. send you that form, and then you will fill it out and send it back. Remember, being late in paying does NOT mean a T is in arrears. Right now, your Ts are simply giving you a "heads-up" about their future plans. All you can do is take it 1 month at a time.-----is Oct rent paid yet?

If you and your Ts actually signed another 1 year lease, send them a letter(after Oct. rent is paid) saying you expect them to comply with the lease----Moneywise----even if they buy a place. That means they do not have to physically live at your rental, BUT, they have to pay off the rest of the lease when they move at the end of the year. HOWEVER, most courts in this country usually have let tenants out of a lease if you and they come to an agreement for a "break lease fee" of, say, equal to 2 months of rent.

In most states, a landlord must try to "mitigate" their damages. That means if a T moves in the middle of a lease, the LL MUST try to re-rent the property again. And if it takes the LL 2 months to get it rented again, you could sue the former Ts for the money you lost while the unit was vacant, and you would most likely win.

NO, you do NOT have a "right" to keep their deposit if they break their lease.. You must show DAMAGES against their deposit-----loss of rents, physical damages, advertising costs to re-rent the property, utilities that your former Ts were supposed to pay but didn't. A letter about their deposit, must be sent to their new address within 21-30 days of them moving out, and the keys given back.
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Re: Tenant Ending Lease Early & Proof of Rent Payment by NC on October 5, 2019 @14:51 [ Reply ]
Very helpful information! Thank you so much!

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