We have a rental property which we would like to have back 15 days prior to our lease agreement ending. The reason why we need it back early is because we ourselves will be moving to that state and moving into the property.
What would be the appropriate way to handle this? Are there any legal repercussions? I was thinking of taking half a rent for that month since we would be asking them to move by middle of the month and perhaps offering an incentive to agree to this arrangement. What would be the appropriate amount to offer in such situation? How long in advance should this be done (at the regular time of notifying them that the lease will not be renewed or earlier and if so how much earlier?). And also would we sign additional papers outlining this agreement/addendum to the current lease? I want some kind of guarantee that if we go to all the lengths we actually do get our property back :/
BTW we are working with a rental management company but are not impressed with how things are being handled. So for now I am just putting out a question to figure out our options and then closer to this event we will need to tell the company.
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Senior Member - 10K
posted: Aug. 5, 2016 @ 8:37a
The tenant has to leave anyways. So offer to waive the last month's rent if they will vacate by the 15th. Suggest they can use the savings to move into their new place a month early (assuming their new rent is comparable to the current rent), and then have 2 weeks to complete the move rather than have to do it in one day.
If they aren't receptive to that, be prepared to not get the property back until the end of the month. Or prepare for buying them out to be very expensive.
No, you can't force it to happen. You are entirely at their mercy. So ask nicely.
I believe some, but not many states have laws that allow a landlord to terminate a lease early if the Owner or family is moving into the residence. You may have to give a longer notice period, and the law may require a termination payment from the landlord to the tenant. Check your local laws to see if that's an option.
Provided that's not an option - it's just going to be a negotiation. The tenant will hold all the cards, so it's all about presentation and positioning. Perhaps the tenant is looking to move early? Reach out an have a conversation (not a text or an email - make it human). Ask if by chance they had any interest in moving in the middle of the month instead of the end of the month. If they say no, mention that you are planning to move back and would really appreciate being able to move in earlier than later (don't make it obvious that you "have" to move back because then they have a stronger position). You may be surprised and they may just opt to move early. If they still say no, tell them you'd be willing to not charge at all for that month if they move by the 15th.
Frankly, that's all I'd be willing to give as a landlord. But of course it depends on the added cost you'd incur by not being able to move until later. You'd possibly have double moving costs (into storage and out of storage), or longer POD rental, plus the inconvenience or added cost of hotels or staying with family/friends. Only you know what that's worth to you.
posted: Aug. 5, 2016 @ 9:18a
They've been renting this house for a little over a year and and have the lease until end of April 2017. We are in a different state and rental management company has been working with the tenant, so we don't exactly have any relationship with them. I know they have 1 little child so I don't want to make it hard on them and willing to give them enough of notice. At the same time I really don't want get stuck in the situation where they stay AFTER lease is up because they may not have found something suitable for them. We are actually planning our move at the end of June, but we will also need time to renovate before the big move. We will be in FL in April (spring break time) and were hoping to buy and store the materials which will be needed for the renovation. That's why I was considering having them leave the property earlier so we can buy what is needed and store it already at our property. The intention is that as soon as they are out of there, my husband travels back to FL and does the renovations and then we all move at the end of June. Another option is for us to still buy stuff and store it in the garage while the tenants are still there, with the idea that they would have to be out of there shortly anyway. But who knows how it will all turn; I don't want them smashing up tiles and making any additional damage :/
Senior Member - 1K
posted: Aug. 5, 2016 @ 9:33a
Why even buy the stuff before you need it? Just wait to buy the supplies you need, when you need them. Why waste money storing items that you dont yet have a need for?
posted: Aug. 5, 2016 @ 9:41a
We want to choose the tiles and flooring, etc and also get it a bit in advance so we won't end up waiting for it when it is really needed (backorder, etc.) Renovation will take some time to get completed and we want the house to be ready by end of June. If the tenants will stay past their lease it will really impact our own move.
posted: Aug. 5, 2016 @ 9:57a
Does it really make that big of a difference to have 2 1/2 months before the end of June instead of 2 months?
posted: Aug. 5, 2016 @ 11:38a
Well we will be in the area in the middle of April, and wanted to purchase the materials and store them in our house.
posted: Aug. 5, 2016 @ 12:08p
Can't you instead rent a self storage for a few months for your building materials?
And I agree 100% with Glitch99's reply above
posted: Aug. 5, 2016 @ 12:10p
Can't you negotiate to have materials delivered by supplier on 5-1... even Home Depot / Lowes will do this.
You should make sure you give them plenty of notice now that you will not be renewing the lease, as others have said they may move out early anyway
Senior Member - 2K
posted: Aug. 5, 2016 @ 2:27p
If you can carry the mortgage without them, tell them now that you won't be renewing and offer to go month to month in case they find a place they like. they may appreciate the extra time to search.
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