If They Are SO WILLING to Break their Lease, Why Would I Want Them?

By
Property Manager with Gibson Management Group, Ltd.

Now is a tough time of year to rent rental homes - for landlords and rental prospects.

 

Maybe it because they are fed up with (1) the noise from their neighbors; (2) too high utilities; (3) or have a baby coming in 7 months....the seem to contact me saying they HAVE A LEASE and NEED TO MOVE.

 

A recent prospect indicated their lease was not up for 9 more months; however, the WANTED to move.

 

This brings me to THEIR 2 dilemma....what landlord would willingly take rental prospects who are demonstrating that they are willing to break their lease AND how will the pay their NEW landlord when their OLD landlord takes them to court and gets a judgment.

 

Most professional landlords and multi-unit apartment properties already jhave a process whereby tenants can get out of their lease.

 

While I do not show vacant properties unless I know the prospects can move in with 30 days, I will advise prospects that want to break their lease to check with their current landlord first for their options for moving early.   

 

...I don't want another landlord's headache...I have enough of my own

 

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Rainmaker
3,265,885
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

  This is often a pattern with tenants who have a history of "breakage" as I am sure you know.

Jan 01, 2015 07:29 PM #1
Rainmaker
5,029,907
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Wallace S. Gibson, CPM  what are those people thinking when they want to break their lease with so many months left.... that's a true headache for anyone who deals with them....

Jan 01, 2015 07:30 PM #2
Rainmaker
3,296,956
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Wallace, great thinkng to not want to inherit someone else's problem. Enjoy your day!

Jan 01, 2015 07:31 PM #3
Rainmaker
2,346,102
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Ahhh yes, deja vu of my Property Management days that I do not miss at all. Happy New Year.....make it happy, healthy and prosperous.

Jan 01, 2015 07:32 PM #4
Rainmaker
739,757
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

All depends on the why of the situation, would investigate a little further if I'm willing to consider, but in a hot market I'll pass to next in line.

Jan 01, 2015 07:35 PM #5
Ambassador
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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Aw shucks.  Folks can move any time they wish.  They're tenants, not prisoners.

That said, they should understand that they MUST adhere to the terms of their lease with respect to default.  They're credit report depends on it.  Often a tenant can buy their way out of a lease and still protect their credit.

So, move if you wish, just notice the landlord so they can secure the property and plan for new tenants. 

Jan 01, 2015 07:43 PM #6
Rainer
1,756,848
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Welcome back Wallace.  Leases mean something?  Gee that's not fair.  Happy New Year.

Jan 01, 2015 07:54 PM #7
Rainmaker
1,027,000
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

What do you mean, I have to honor a legal contract?  But I want to move!  It is not fair. 

Jan 01, 2015 09:04 PM #8
Rainmaker
743,948
Rob D. Shepherd
Windermere/lane county - Florence, OR
Principal Broker GRI, SRES

As Dr. Phil has said many times on his show, "if they will do it with you, they will do it too you",

Jan 01, 2015 09:48 PM #9
Rainmaker
2,676,750
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

I understand the desire to move, but a lease is a legal document and I don't get why many don't understand this.  Yes, they should speak w/ current landlord.  There may even be an option for them to find a larger place w/ same landlord.

Jan 01, 2015 10:36 PM #10
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Wallace ... great post and this one may go "GOLD" and you are so right 

Featured to the group:

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Jan 02, 2015 08:13 AM #11
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Wallace S. Gibson, CPM

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