 early lease termination (by Marlene Schofield [NY]) May 14, 2019 3:38 PM
 early lease termination (by JB [OR]) May 14, 2019 3:45 PM
early lease termination (by Jeff [CO]) May 14, 2019 7:02 PM
early lease termination (by BRAD 20,000 [IN]) May 14, 2019 10:48 PM
early lease termination (by Drew [CO]) May 15, 2019 8:48 AM
early lease termination (by Drew [CO]) May 15, 2019 8:48 AM
early lease termination (by Drew [CO]) May 15, 2019 8:48 AM
early lease termination (by Drew [CO]) May 15, 2019 8:49 AM
early lease termination (by Annie [IN]) May 16, 2019 4:10 PM
early lease termination (by Marlene Schofield [NY]) Posted on: May 14, 2019 3:38 PM
Message:
My tenants signed a lease that expires on September 30, 2019. I was asked today what my policy would be for termination of lease on July 1 to the 15, 2019. I am looking for some expert advice regarding this situation on how I should proceed.
Thank you. --66.66.xxx.xxx |
early lease termination (by JB [OR]) Posted on: May 14, 2019 3:45 PM
Message:
How does your lease address the issue? --172.56.xx.xx |
early lease termination (by Jeff [CO]) Posted on: May 14, 2019 7:02 PM
Message:
Your policy is in the lease, and supported (or not) by state law. --76.120.xx.xx |
early lease termination (by BRAD 20,000 [IN]) Posted on: May 14, 2019 10:48 PM
Message:
Marlene,
Another sad case of wimpy-lease-itis. This is a very common situation and is spelled out in a proper lease. I can vaccinate you from this terrible disease.
My lease is clear: ‘Early Lease Termination Fee $_____. Resident may pay this one time fee to end the lease early for any reason including eviction, as liquidated damages. Resident is required to provide notice 2 full calendar months prior to implementing the Early Lease Termination clause.’
In MY state I cannot get extra rent but I CAN get fees, so I calculate the FEE as 2 times the rent.
People pay it. It’s just that simple. Works. Don’t be shy.
In your case deliver a letter or email to your res NOW stating STANDARD POLICY with the quote I wrote above.
BRAD --73.102.xxx.xxx |
early lease termination (by Drew [CO]) Posted on: May 15, 2019 8:48 AM
Message:
Marlene, I have something in my lease similar to Brad 20,000. It works wonderfully! I have had a number of tenants opt for this and.pay the fee. Prior to having it in my clause, tenants were essentially held to the letter of the lease which said they are responsible for the entire term of the lease agreement. I however would often talk with them and agree to do an "Early Termination Agreement" whereby both parties signed and tenant would forfeit security deposit, be responsible for rent until re-rented, and keep apartment clean and available for tours. I never had any issue with that but depending on the tenants some could easily say well if I'm not getting g my SD back I'm not cleaning etc... which is why having something in the lease around a fee instead is the better way to go. No question as to how you're handling it. GOOD LUCK --172.58.xx.xxx |
early lease termination (by Drew [CO]) Posted on: May 15, 2019 8:48 AM
Message:
Marlene, I have something in my lease similar to Brad 20,000. It works wonderfully! I have had a number of tenants opt for this and.pay the fee. Prior to having it in my clause, tenants were essentially held to the letter of the lease which said they are responsible for the entire term of the lease agreement. I however would often talk with them and agree to do an "Early Termination Agreement" whereby both parties signed and tenant would forfeit security deposit, be responsible for rent until re-rented, and keep apartment clean and available for tours. I never had any issue with that but depending on the tenants some could easily say well if I'm not getting g my SD back I'm not cleaning etc... which is why having something in the lease around a fee instead is the better way to go. No question as to how you're handling it. GOOD LUCK --172.58.xx.xxx |
early lease termination (by Drew [CO]) Posted on: May 15, 2019 8:48 AM
Message:
Marlene, I have something in my lease similar to Brad 20,000. It works wonderfully! I have had a number of tenants opt for this and.pay the fee. Prior to having it in my clause, tenants were essentially held to the letter of the lease which said they are responsible for the entire term of the lease agreement. I however would often talk with them and agree to do an "Early Termination Agreement" whereby both parties signed and tenant would forfeit security deposit, be responsible for rent until re-rented, and keep apartment clean and available for tours. I never had any issue with that but depending on the tenants some could easily say well if I'm not getting g my SD back I'm not cleaning etc... which is why having something in the lease around a fee instead is the better way to go. No question as to how you're handling it. GOOD LUCK --172.58.xx.xxx |
early lease termination (by Drew [CO]) Posted on: May 15, 2019 8:49 AM
Message:
Apologies for the x3! --172.58.xx.xxx |
early lease termination (by Annie [IN]) Posted on: May 16, 2019 4:10 PM
Message:
Looking through and saw this post. We have a ELT clause in our lease. Just today we had a Couple that had decided to buy a house, with many months left on the lease. They are putting up the $1,500 ELT fee (plus they have to pay NEXT month's rent) and will be leaving the middle of June. And the apartment will probably re-rent quickly, as we get many inquiries if we have any available. --209.132.xxx.xxx |
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