Tenant Wants out of his lease . . . what do I do?

[mrembecki]

Hello,

My tenant would like to break his lease and leave my property b/c he has been recently laid off. The property is a single, family residence and is located in Ontario. What is the standard operating procedure with this type of situation where the tenant has the obligation to fulfill his lease rquirements, but wants or needs out?? I told him that I would phone him on Monday to discuss so any advice would be very much appreciated.

Kind Regards,

Martin.

 

[housingrental]

Sure Martin, you have an obligation to try to mitigate damages:

Inform him that you`ll try to re-rent out the unit but that he`s responsible for the rent until the unit is filled

Get him signed off on notice to end tenancy form

For the same price as the tenants lease advertise the unit in as many places as reasonable - classifieds in newspapers, online, etc..

Respond to rental inquires in a timely manner

Follow up with potential renters after viewings

Document all of this in detail so that if you need to litigate once exact costs owing have been confirmed and he stops payment. Do this in DETAIL - ie talked with tenant on first step on date / time and then sent follow up letter and email - posted ads at X and X and X on X - Potential renter X phoned on X I got him through X and followed up on X -

Once unit is re-rented original tenant doesn`t owe you anything. Until it is he`s required to pay rent each month.

Also - Assuming original tenant has last month rent on file with you and you happen to have a situation where he`s paid current months of rent and someone is found to start at the beginning of the next month you do have to refund him his last month rent on file and interest owing on it as applicable.

QUOTE (mrembecki @ May 23 2009, 12:09 PM) Hello,

My tenant would like to break his lease and leave my property b/c he has been recently laid off. The property is a single, family residence and is located in Ontario. What is the standard operating procedure with this type of situation where the tenant has the obligation to fulfill his lease rquirements, but wants or needs out?? I told him that I would phone him on Monday to discuss so any advice would be very much appreciated.

Kind Regards,

Martin.

 

[invst4profit]

Be conscious of the present tenant attempting to convince you to apply his last months rent to his actual last month.
As advised above make every attempt to re-rent and once accomplished refund the present tenants last month. Otherwise you could get burned.

 

[Nicola]

I agree with both of the above posts. However, I would also keep in mind that if the tenant has lost his job and can`t afford your place, it`s best to let him go and get another tenant asap. Point out to him that it is in his interest to get it rented quickly (since he is obligated to pay rent until you find a new tenant). For example, he could make sure it is clean and inviting looking and be accommodating with viewings, as well as leaving it clean and undamaged on move-out.

 

[manojsingh]

I agree with Nicola, Let him go. Its not worth for your time also. Take his help in showing and rent the unit.