Leases And Tenants
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
Latest News
WW Oil & Gas Inc. Reports on Wolf Lease Oil and Gas Properties MarketWatch - The company has hired an oil and gas-operating firm to manage the 300-acre Olney lease projects acquired by WW Oil & Gas Inc. WW Oil & Gas Inc., ... Research and Markets: El Paso Research and Markets: El Paso Corporation Company Oil and Gas ... |
There's gold in those mountains of Garrett Jay Hancock Baltimore Sun, United States - There is an Appalachian energy boom from West Virginia to New York, exemplified by a group of farmers and other landowners who expect to lease nearly a ... |
Luxury boxes get solid reviews as lease renewals loom Gazette Online, IA - Grubb, 66, was uncertain about whether he'll renew his lease but will consider it. Dan Kehl, Riverside Casino & Golf Resort's chief executive officer, ... |
Company pressures resident to sign oil lease Ludington Daily News, MI - Mary Sanford said she’s been pressured to sign a lease to create a drilling unit to seek oil under Bass Lake by means of directional drilling. ... |
US Auto Makers, Dealers To Feel Sting Of Leasing Pullback CNNMoney.com - Deterioration of the leasing market is forcing Detroit's Big Three to offer fewer and less-generous lease deals, in many cases giving dealers one less perk ... Chrysler Gets a Jolt of Lease Traffic Major players' retreat from auto leasing opens doors for the ... Detroit’s Losses Mount on Leasing Operations |
Vacant retail spots difficult to lease Arizona Republic, AZ - Lively is handling leasing for the 40th Street location. "A gym was interested, but they could not get financing," he said. "Some furniture stores expressed ... |
State urged to kill lease contract Chicago Tribune, United States - Under the lease, the state is paying downtown Chicago rental rates—more than $19 per square foot—for a building in economically depressed Harvey that was ... |
Alaska Live Steamers get a new lease on life Anchorage Daily News (subscription), AK - "We went back to them to ask if we could lease it," he said. As sometimes happens with governments, the city didn't have any process set up for leasing land ... |
Merritt Properties adds tenants to Ashburn site Bizjournals.com, NC - The term of their 7245 square-foot lease is seven years. Baltimore-based Merritt Properties LLC is the owner, developer and primary leasing company within ... |
Foreclosure may mean eviction for tenants San Francisco Chronicle, USA - Tenants with leases are in a better position only if the lease was signed before the mortgage. In that case, a tenant can stay until the lease expires. ... Drastic changes to late fees and parking unfair |
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