Thought we were going to get by with no turnovers this year. Lady gave notice yesterday, advising that she had bought a home and wanted to know if she could use deposit for last month rent? I told her no, and reminded her that we still had a legal and binding lease until the end of November. (I don't know why tenants always think it's binding on the landlord, can't rent it to someone that would pay more but they can dive out at the drop of a hat).

I also suggested that with her cooperation we'd begin advertising it immediately. I'm not really worried as I know I can get a judgment since she will be owning real property soon, however, my question is one more of:

Do I have to legally advertise it for what she is paying now? I say yes, DH says no.

It is $650.00 which is way under market but I signed an agreement with her until 11/30/22 for that. If she breaks it, am I free to ask what I want (singlewide near there rented for 1,000.00 recently on FB marketplace)?

I'm advertising on Craig's List now for 750.00 because I like our tenants to be able to stay. It is a 14 x 76 3/2 on small lot in a not so great neighborhood about 37 miles from Charlottesville.

Pat,

I second Roy's advice about offering an Early Termination Fee. Offer a fee equal to 2 months rent for her to move out with no further obligation. She gives 30 days notice, pays the rent that month, then on the way out the door she hands you a certified cashiers check or money order for $1300.

Why do they think it's your job to let them walk whenever? Easy. Humans in general want what's best for them, not necessarily what's best for all parties concerned. Once that kicks in, we invent reasons and excuses why whatever deal I signed up for isn't binding any more.

"The LL never fixed anything." Sometime true, but irrelevant unless you followed the law in your state for withholding rent.

"The LL is richer than me." Sometime true, but always irrelevant. Almost every company the average shopper buy something from is richer than they in terms of inventory, real estate, cash on hand, etc.

"They won't come after me." Sometime true, but not for me!

Invent a "reason"... then act on it. Be sure to feign moral indignance when confronted.

This is complicated.

You can advertise it for whatever you want to, and if you find a new tenant for Sept 1 (I am guessing that the Existing Tenant wants to be released from the lease as of August 31), there is no problem.

I would advertise close to current market rate. Maybe $50 less. Lease would have an early increase of $50 in six months.

I don't know anything about VA, but some other states (including CA) have re-cast the language of their law to make leases a matter of Contract Law rather than Real Property law.

CA, for example, now specifies that " LESSOR may recover the amounts set forth in ... the Civil Code, including the worth at the time of judgment or award of the amount by which the unpaid rent for the balance of the term, after the time of the award, exceeds the amount of such rental loss for the same period that LESSEE proves could be reasonably avoided. "

So CA does not require that the LL MUST mitigate his loss, but he loses advantage in court if he does not "reasonably avoid" his rental loss, but he has more freedom of movement in how he may choose to proceed, including how to set his asking price for a replacement tenant.

Hmmmm I can see where you might want to do a balancing act.

On one hand you have a tenant that is on the hook until you rent the place or November so it would be easy to want to raise the rent to market value.....but if it doesn't rent out right away - then they can file a complaint against you.

Maybe you can thread the nettle and get them to help you raise the rent and get it rented out. Let them know what the market rent will be, and if they can help you get the place rented out at the current market rent - that you can make it worth their wild. Personally, I would waive the ETF fee if they are able to allow me to earn more more money and get a new two year lease (I do two year leases).