Lease Renewal
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
Lease Renewal (by mztenant [TN]) Aug 23, 2010 12:23 PM
       Lease Renewal (by Ellie [IL]) Aug 23, 2010 12:36 PM
       Lease Renewal (by mzlandlady [TN]) Aug 23, 2010 2:10 PM
       Lease Renewal (by Virden [OH]) Aug 24, 2010 12:08 PM

Lease Renewal (by mztenant [TN]) Posted on: Aug 23, 2010 12:23 PM

State Specific Question About: TENNESSEE (TN)

I am a landlord (and a tenant), simultaneously (don't ask, it's complicated!). The facts: the lease ends on 08/31/2010. The 7-month renewal lease begins on 09/01/2010, which has been executed by the tenant. There is an out-option ($900) if exercised prior to end of lease. A 60-day notification is required. My question: If tenant gives 60-day notification prior to 09/01/2010, is the renewal lease still viable? In other words, will the out-option penalty have to be paid to gracefully exit the lease? THANKS!

Lease Renewal (by Ellie [IL]) Posted on: Aug 23, 2010 12:36 PM

I got lost.

Did Tenant sign lease renewal but has now changed their mind?

Lease Renewal (by mzlandlady [TN]) Posted on: Aug 23, 2010 2:10 PM


Lease Renewal (by Virden [OH]) Posted on: Aug 24, 2010 12:08 PM

I think that is why there is an opt out fee, but be gentle and remind them if someone rents it right away because it was left cleaner than when they moved in you could change your mind - give them something to make them work for, ask them if they can find you a new tenant.

Subject: RE: Lease Renewal
Your Name:
Your State:

Lease Renewal
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: