Did you know that the majority tenants who rent single-family homes pick long-term leases? That being said, life events can be totally unforeseen and unpredictable, and tenants may have to leave earlier than expected. It’s always good and advantageous to have a plan in place, just in case.
Frequent reasons for breaking a lease include job relocations, home buying, changing familial status, or military duty. It’s imperative to handle the situation adeptly and suitably follow legal protocols.
Know and Follow the Law
When you and your tenant sign a lease, it’s substantial to call to mind that it’s a legally binding agreement. which simply means, you both have certain rights and responsibilities governed by state landlord-tenant and other federal laws. These laws are in place to secure that both you and your tenant are treated fairly. For illustration, in various states, landlords are responsible for seeing to it that the rental property is in good condition and must always give notice to the tenant preliminary to entering the property.
Failing to follow landlord-entry regulations or respecting your tenant’s privacy can be legal grounds for lease termination in some states. Other reasons include military service, domestic violence, or uninhabitable property.
Lease Termination Clause
Including an early lease termination clause in your lease documents is a useful practice for any landlord, while it is not mandated. Such a clause can help clarify the process a tenant may follow to break their lease agreement. In most situations, this includes rendering a certain amount of advance notice, typically 30 days, and reasonably paying an early termination fee. By having this clause in place, both the tenant and the landlord can avoid any confusion or disputes if the tenant needs to terminate the lease early.
A clause in your lease documents imparts your tenant a way out if needed, and establishes that you do not endure financial hardship because of the broken lease.
After a Tenant Breaks a Lease
As a landlord, it’s primal to maintain cordial and respectful relationships with tenants, even if they happen to break the lease agreement. While it can be dismaying when a tenant leaves before fulfilling their lease term, handling the situation expertly and with understanding is noteworthy. In such cases, it’s commendable to document the problem and initiate a dialogue with the tenant to resolve the matter and collect any outstanding dues.
It’s strongly recommended to ask your tenant if you can inspect the property before they leave. This will help you identify any repairs that the tenant may be held accountable for and what you need to do to get the property ready for a new tenant. As with any tenant, you should calculate any unpaid rent and the cost of repairs and deduct them from their security deposit. It is imperative to keep a complete documentation of everything.
Send your tenant a written reminder plainly describing their legal obligations under the terms of your lease agreement and what will happen if they don’t fulfill them. It’s suggested to send this notice by certified mail to establish a paper trail of your actions.
If you light upon a situation where your tenant is not paying the rent, you might have to go through a legal process to collect the owed rent and associated fees. This implies filing a civil lawsuit with your local court. It is principal for you to impart to the court that you have acted in a lawful and fair manner throughout the process, including all the lawful actions you took to re-rent the property.
Hire a Professional Property Manager
One best solution to make certain that your rental business is put into effect in a professional and legally alterable manner is by turning to the services of a reliable property management company. Such a company can help you navigate the complexities of property management and see to it that your rental property is managed well and transparently.
At Real Property Management Tulsa, we positively work on your behalf in Tulsa and nearby to form beneficial tenant relations and mend problems caused by unexpected changes. Contact us online or call us at 918-532-7020 to ascertain more relating to this and our other quality services.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
