Did you know almost any tenants who rent single-family homes go for long-term leases? But it is also a matter of fact that life can be randomly unpredictable, and tenants may have to leave earlier than expected. It’s always most advantageous to have a plan in place, just in case.
Typically reasons for breaking a lease include job relocations, home buying, changing familial status, or military duty. It’s basic to handle the situation ably and properly follow legal protocols.
Know and Follow the Law
When you and your tenant sign a lease, it’s so important to be aware that it’s a legally binding agreement. Know that you both have certain rights and responsibilities governed by state landlord-tenant and other federal laws. These laws are in place to always make certain that both you and your tenant are treated fairly. As an example, in numerous states, landlords are responsible for always making sure that the rental property is in good condition and must give notice to the tenant whenever they plan on entering the property.
Failing to meet landlord-entry regulations or respecting your tenant’s privacy can be legal grounds for lease termination in various states. Other reasons include military service, domestic violence, or uninhabitable property.
Lease Termination Clause
Including an early lease termination clause in your lease documents is a beneficial practice for any landlord, even if it is not really required. Such a clause can help clarify the process a tenant may follow to break their lease agreement. Mostly, this includes requiring a certain amount of advance notice, ordinarily 30 days, and definitely paying an early termination fee. By having this clause in place, both the tenant and the landlord can avoid any confusion or disagreements if the tenant needs to terminate the lease early.
A clause in your lease documents bids your tenant a way out if needed, and warrants that you do not deal with financial hardship because of the broken lease.
After a Tenant Breaks a Lease
As a landlord, it’s principal to maintain cordial and respectful relationships with tenants, even if they happen to break the lease agreement. While it can be depressing when a tenant leaves before fulfilling their lease term, handling the situation with excellence and benevolence is relevant. In such cases, it’s necessary to document the problem and initiate a dialogue with the tenant to resolve the matter and collect any outstanding dues.
It’s a correct decision to ask your tenant if you can inspect the property before they set out. This will help you identify any repairs that the tenant may be actually responsible for and what you need to do to get the property ready for a new tenant. As with any tenant, you should calculate any unpaid rent and the cost of repairs and deduct them from their security deposit. It is pivotal to keep an exhaustive documentation of everything.
Send your tenant a written reminder giving an explanation of their legal obligations under the terms of your lease agreement and what will happen if they don’t abide by them. It’s judicious to send this notice by certified mail to effect a paper trail of your actions.
If you run into a situation where your tenant is not paying the rent, you might have to go through a legal process to collect the owed rent and associated fees. This incorporates filing a civil lawsuit with your local court. It is significant for you to present to the court that you have acted in a lawful and fair manner throughout the process, including all the approaches you took to re-rent the property.
Hire a Professional Property Manager
One proven way to nail down that your rental business is undertaken in a professional and legally compliant manner is by appointing the services of a reliable property management company. Such a company can help you suitably navigate the complexities of property management and make absolutely sure that your rental property is managed thoroughly well and transparently.
At Real Property Management Now, we efficiently work on your behalf in De Beque and nearby to pursue developing prime tenant relations and make right whatever problems are brought about by unexpected changes. Contact us online or call us at 970-314-7123 to learn more information about this and our other quality services.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
