 Breaking lease wanna sell (by D [OH]) Feb 20, 2019 10:24 AM
 Breaking lease wanna sell (by plenty [MO]) Feb 20, 2019 10:46 AM
Breaking lease wanna sell (by S i d [MO]) Feb 20, 2019 11:27 AM
Breaking lease wanna sell (by phil [NY]) Feb 20, 2019 12:31 PM
Breaking lease wanna sell (by Vee [OH]) Feb 20, 2019 8:14 PM
Breaking lease wanna sell (by plenty [MO]) Feb 20, 2019 8:34 PM
Breaking lease wanna sell (by Ray-N-Pa [PA]) Feb 23, 2019 2:54 PM
Breaking lease wanna sell (by D [OH]) Posted on: Feb 20, 2019 10:24 AM
Message:
In Ohio, if tenant breaks lease they are responsible for rent until a new tenant is found. I am planning on selling the duplex however. Can I try and recover rent from them until the duplex is SOLD or their lease runs out, whichever comes first? They are leaving about 4 or 5 months early. Thanks.
--166.137.xxx.xxx |
Breaking lease wanna sell (by plenty [MO]) Posted on: Feb 20, 2019 10:46 AM
Message:
I suppose you know the answer... no --99.203.xx.xxx |
Breaking lease wanna sell (by S i d [MO]) Posted on: Feb 20, 2019 11:27 AM
Message:
The rule of thumb will a sale is, "the lease runs with the building". Anything you were due under the lease will be yours until such time as the new owner acquires the building. The lease is a contract and remains in force even if the parties involved change names.
So I believe plenty[MO] is incorrect. Yes, the tenant is responsible for rent to you up until the day you sell it; then the tenant is responsible for rent to the new owner.
I've never had your situation happen to me, but I don't see why this would be a special case. Everything else about a lease transfers at time of sale, unless parties negotiate otherwise. Check your state's LL/T laws in case there is some unusual exception. --173.20.xxx.xxx |
Breaking lease wanna sell (by phil [NY]) Posted on: Feb 20, 2019 12:31 PM
Message:
when a party breach's a contract all parties to the contract even the non-breaching party has a Duty to mitigate their damages from the breach
In this case the LL has decided not to mitigate their damage and re-rent the unit but put it up for sale as such the court is not going to simply let the LL sit on their hands and do nothing but collect rent until the lease expires --73.197.xxx.xx |
Breaking lease wanna sell (by Vee [OH]) Posted on: Feb 20, 2019 8:14 PM
Message:
The tenants are liable for length of lease, if a new tenant passes and takes the unit the lease will be replaced however in my area courts more than 3 months vacant rent is the about the end.
--76.188.xxx.x |
Breaking lease wanna sell (by plenty [MO]) Posted on: Feb 20, 2019 8:34 PM
Message:
Do you have an early termination fee written in your lease? Will you be trying yo rerent the home? If not then plenty maybe correct. --99.203.xx.xxx |
Breaking lease wanna sell (by Ray-N-Pa [PA]) Posted on: Feb 23, 2019 2:54 PM
Message:
I find it easier to sell when the unit is empty and rent ready. Instead of trying to shake down the tenant, you might want to than them. Fresh paint makes a place looks inviting,
Perhaps you can pursue an ETF as Plenty recommended --72.23.xxx.xx |
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