TIP OF THE MONTH - June 2012
Source: Property Management for Dummies
Although you may
occasionally be faced with a tenant who will not leave as agreed, you
will certainly encounter a tenant who leaves before the expiration of
his/her lease and does not want to pay the balance of his/her financial
obligation to you. In these cases, in practically all states, you
don’t have the right to demand that the tenant pay the rent due each
month for the balance of the lease.
Confirm that the tenant has indeed given up his right
of possession. Then take reasonable steps to mitigate or limit
the ongoing rent and other charges to the departed tenant by preparing
the rental unit for re-renting. In most states, you must make a
reasonable effort to promptly re-rent the property, including
advertising or using other usual rental marketing methods, or the
tenant may be released from any further legal obligation to pay the
balance of rent owed under the lease.
Handle the marketing of this rental unit just like any
other unit. You do not need to lower the rent, lower your tenant
selection standards, or give this rental priority over any other
available rental unit. Of course, you cannot be vindictive and
attempt to enrich yourself either.
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This web page was updated on 05/31/2012.