Terminating lease
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Terminating lease (by Dan [IL]) Jan 22, 2017 12:15 PM
       Terminating lease (by Moshe [CA]) Jan 22, 2017 12:22 PM
       Terminating lease (by Martin [CO]) Jan 22, 2017 12:41 PM
       Terminating lease (by cjo'h [CT]) Jan 22, 2017 2:09 PM
       Terminating lease (by BRAD 20,000 [IN]) Jan 23, 2017 12:18 AM
       Terminating lease (by Dan [IL]) Jan 23, 2017 10:13 PM
       Terminating lease (by Moshe [CA]) Jan 24, 2017 10:51 AM
       Terminating lease (by plenty [MO]) Jan 24, 2017 3:53 PM

Terminating lease (by Dan [IL]) Posted on: Jan 22, 2017 12:15 PM

State Specific Question About: ILLINOIS (IL)

Hey guys,

I'm renting a property in Chicago that I intend to sell, and due to tax considerations I will likely need to end the lease a month earlier than our contract requires. I've gone through my lease (it's a standard domu contract) and I don't see anything that discusses early termination.

So, does the tenant have any recourse in this situation? I intend to be upfront with them and explain the situation, but I would of course like to know where I stand from a legal perspective.


D --184.153.xxx.xxx

Terminating lease (by Moshe [CA]) Posted on: Jan 22, 2017 12:22 PM

The tenant has all the recourse in the world. He doesn't need to do anything, has lease endures until it expires. YOU're the one that is looking for recourse. That where the two of you stand.

The only solution is for the two of you to agree. You need to negotiate and to try to arrive at some mutually beneficial arrangement. You may need to offer them some money.


Terminating lease (by Martin [CO]) Posted on: Jan 22, 2017 12:41 PM

"does the tenant have any recourse in this situation?"

As Moshe indicated, you have this backwards. The question should be "do I have any recourse in this situation?" You have a legally binding contract. You have no legal authority to make the tenant leave until it expires, as long as the tenant is abiding the terms of the lease (generally, they are paying their rent on time). You can certainly approach them and ask if they would be willing to modify the lease and leave early. They can say no, and you have no recourse. You can offer them an incentive to leave early, but they can still say no. I don't know what type of home you are renting, but for a lower-income rental, just offering them $250 or maybe $500 may be enough for them to leave. For some of them, $100 may be enough. For others, they may have already made plans based on the end of the lease, and there may be almost nothing you can do to encourage them to leave early.

You are starting this with the right plan. Go to them now, and tell them what is going on. See if they are willing to leave early. Bring paper and pen with you - as soon as they agree to anything you propose, write it down, and have all persons on the lease sign it. Go in with hat in hand. They have all the cards, and you are asking them to do you a favor.

One other thought - put it up for sale NOW and target other investors. They would very possibly purchase the home with the tenants in it and a lease in place. You need no permission from the tenants to do this - just be sure that the purchaser is aware of the current terms of the lease, as they convey 100%. You could try this for a few months, at least, and if it doesn't work then you could change your target purchasers later on.

Good luck. Depending on how flexible your tenants are, and your relationship with them, this could be an easy, no big deal. Hope it works out for you. --75.166.xxx.xxx

Terminating lease (by cjo'h [CT]) Posted on: Jan 22, 2017 2:09 PM

Dan, what Moshe says, she is spot on,what's the hurry anyhow,what's the difference whether they move out right away or not,why do you think you need them to.just because you put it on the market, doesn't mean someone will come up with what you want,just like that,if you approach the tenant,unlike what Martin says,keep your hat on,in case you end up on your A.. on the sidewalk. Don't be in too big a hurry! ......................Charlie............................................... --174.199.x.xxx

Terminating lease (by BRAD 20,000 [IN]) Posted on: Jan 23, 2017 12:18 AM


EVERYTHING is negotiable. Talk to your res. Maybe they are waiting to leave.

If not, flash some cash for their inconvenience.

One technique is to tell them now you plan to sell and ask if they would like to leave before you start tromping buyers thru their home. Gives them a chance to hunt for a new home with less time pressure.

BRAD --73.146.xxx.xxx

Terminating lease (by Dan [IL]) Posted on: Jan 23, 2017 10:13 PM

Thanks for the responses, clearly some characters on this forum!

Charlie, i need to sell a month early or my property would be classified as an investment property rather than a primary residence, which would leave me with a fat tax bill. So the timing is critical. I obviously should have built this into the lease but I just recently made the decision to sell.

These comments are all very helpful - it gives me a much better idea of where I stand. Plan is to just be upfront and explain the situation. Thanks all. --184.153.xxx.xxx

Terminating lease (by Moshe [CA]) Posted on: Jan 24, 2017 10:51 AM

" Plan is to just be upfront and explain the situation. "

And then, what? --47.139.xx.xxx

Terminating lease (by plenty [MO]) Posted on: Jan 24, 2017 3:53 PM

Dan. In that case id offer them a financial incentives to be out. Like two thousand dollars... Like a early release fee in reverse! --66.87.xx.xxx

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