Wednesday, August 29, 2012

Lease Break

Ugh, one of our tenants has decided to break her lease.  Our tenant has a job opportunity that is requiring her to move and its an opportunity that she can't pass up so she has opted to break her lease.  

Mr. Sam normally handles the interactions with our tenants, because I can be too tough and over the years he has done a better job at working and managing our tenants.  This is our plan, we will review the lease and abide by the lease.  I'm sure you are thinking, of course you'll abide by the lease, well Mr. Sam can be too nice and not charge fees that we ought to be charging.  So, because we only got notice late in the month, we will charge her the last month of rent (which we have in our tenant account) because we won't be able to lease the unit before September first.  If we rent the place quickly (i.e. mid-month) we will refund part of her last month's rent, meaning we won't collect the rent twice for the same unit.  We also will charge her the lease break fee (which we also have in our tenant account) since she is breaking the lease.  The lease break fee covers the expense of advertising the unit and any other expenses related to re-renting the unit (i.e. there is a utility fee for transferring the utilities back to our name).

1 comment:

samantha jacob said...

you must enter the details of both party's in the agreement.this agreement will become as a legal agreement.

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