Smart rental property owners in Pleasant Hill invest a lot of time and resources into tenant screening. You want to make sure you’re placing a highly qualified tenant who will pay rent on time, take care of your investment property, and follow the terms of your lease agreement.
You never like to hear that a tenant wants to break the lease and leave the Pleasant Hill rental property before the end of the contractual term.
However, this can happen – even with good, well-screened tenants. Today we’re talking about how to hold tenants accountable for the consequences that come with a lease break and what you can do to make the situation a bit better for everyone involved.
Don’t Take Broken Leases Personally
Most landlords and property owners will become nervous and maybe even angry when a tenant notifies them that they’re moving out before the end of the lease term. That’s understandable, but try to remain professional and respectful. This happens, and as long as you work quickly to replace the departing tenant, you don’t necessarily have to lose much money. Tenants may have a good reason to break the lease. If they’re in the military, there’s not much you can do to stop them. Even if they’re not in the military, don’t make things more difficult than they have to be. You will need cooperation from this tenant; you don’t want to make things so unpleasant that they simply disappear in the middle of the night.
Tenant Financial Requirements during Lease Breaks
Typically, when tenants break a lease early, they are required to continue paying the remaining rent for the lease period until the term ends. For a tenant who is leaving one or two months before the end of the lease term, this may be a penalty that’s worth paying. However, residents who are only halfway through their lease term may find these financial responsibilities difficult to meet.
Communication between tenants and landlords is critical when there’s a lease break. Tenants who want to save money will be smart to work with their landlord. Good residents know they can minimize what they’ll have to pay by providing as much notice as possible and documenting the reason for leaving early. Your tenants can also save themselves and you some money by ensuring the home is available to show prospective new tenants. This will help get it rented faster.
Good Tenant Communication
It is extremely important to have an open line of communication with the tenant.
Talk to your tenant about the details of their move so you know how long they expect to be in the property and what they’re willing to do in terms of showings, cleaning, and rental property maintenance. You’ll want a quick turnaround, and your tenants will, too. This is going to require open and responsive communication from both parties.
Finding a New Pleasant Hill Tenant
Give your tenants the opportunity to suggest a new tenant who can take their place until the end of the lease so you don’t have a vacancy. If someone takes over the current tenant’s lease, you can still collect the same rental amount until that lease period ends. Your tenant might have someone in mind already, or maybe together you can advertise for a resident who is interested in finishing out the lease term.
Ideally, you’ll find a new long-term tenant however. Get your marketing plans in place right away and make sure there are only a few days of turnover between the time your current tenant leaves and a new tenant moves in.
Lease breaks are always unpleasant, but they don’t have to be a complete disaster. If you’d like some help handling leases, tenants, or anything pertaining to Pleasant Hill property management, please contact us at Stokley Properties.