 ELTF ETF language (by Still Learning [NH]) Jul 16, 2025 8:13 PM
 ELTF ETF language (by ned [AL]) Jul 16, 2025 8:58 PM
ELTF ETF language (by 6x6 [TN]) Jul 16, 2025 9:05 PM
ELTF ETF language (by Ray-N-Pa [PA]) Jul 17, 2025 7:17 AM
ELTF ETF language (by BRAD 20,000 [IN]) Jul 19, 2025 1:09 AM
ELTF ETF language (by Still Learning [NH]) Jul 19, 2025 1:40 PM
ELTF ETF language (by Still Learning [NH]) Posted on: Jul 16, 2025 8:13 PM
Message:
Haven't used one in a while. A tenant just asked for one for the lease renewal since they think they may have a relocation during the next lease term. I've searched the last few years and couldn't find one. If you are willing to share your clause, I would appreciate not inventing the wheel tonight. Thank you.
--73.149.xx.xxx |
ELTF ETF language (by ned [AL]) Posted on: Jul 16, 2025 8:58 PM
Message:
Should tenant wish to terminate this lease prior to the term listed above, he/she may do so by paying all rent due, plus an EARLY LEASE TERMINATION FEE OF $xxx.00.
--74.135.xx.xx |
ELTF ETF language (by 6x6 [TN]) Posted on: Jul 16, 2025 9:05 PM
Message:
....Or ELT (Early Lease Termination Fee) $___1 ½ X rent___ Resident(s) may pay this one-time fee to legally end the lease early without being forced to pay for the remaining months of the lease. A 60 day notice is required. This ELT fee benefits the resident(s).
Example, lease ends June 30. On January 15, resident(s) notifies management of his intent to vacate. At this point resident(s) is responsible for the next 60 day period and rent is in full calendar months only, not prorated, so resident(s) will be responsible for February and March rent. When the ELT fee is received, resident(s) will be released for payment of rent for April, May, and June, thus saving the resident(s) 1 months of rent.
Security Deposit cannot be applied to ELT.
--73.19.xxx.xx |
ELTF ETF language (by Ray-N-Pa [PA]) Posted on: Jul 17, 2025 7:17 AM
Message:
ETF is a powerful tool but our judges will not allow landlords to double dip. In other words, if someone terminates, and elects to pay the ETF, you can't charge them rent for the period it takes to get the place filled again.
So this makes the ETF voluntary. They can pay two months' rent as ETF or they can be on the hook until the place fills back up. The majority of the time they pick the sure thing --98.17.xx.xx |
ELTF ETF language (by BRAD 20,000 [IN]) Posted on: Jul 19, 2025 1:09 AM
Message:
Still,
Not every lease goes to court. Just received a "jingle envelope" - keys and a money order for the ELT with a note "Sorry we had to move. Here are the keys and the ELT".
ned,
Change "may" to "shall".
Ask me how I know (It lost me $1500 in court).
BRAD
--68.45.xxx.xxx |
ELTF ETF language (by Still Learning [NH]) Posted on: Jul 19, 2025 1:40 PM
Message:
Thank you --73.149.xx.xxx |
Reply:
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