Question on Lease ending


#1

Hi guys,

got a question, the lease for my tenant is ending in July. Looks like they want to renew for 2 months only. But i prefer 1 year lease. So my question is can i have my PM start sending them notice and start marketing and bringing potential tenant to check out the house before their lease is up?

thanks
eric


#2

Don’t do the 2 month. By the time they move out it will September and school already started. Bad time to market a rental.

Kick them out.


#3

Yeah, I’m thinking the same. Thanks manch, Can i bring potential tenant to check out the house while they’re on the lease or i have to wait until they move out?


#4

It’s up to the tenants. If you have good relationship with them usually tenants are OK with you showing the house. Of course you have to give them plenty of notification time.


#5

cool. thanks. I’ll just have PM to tell them either 1 yr or going to give them notice.


#6

Before you do that, are they in the tech industry and holding a higher appointment than you? You might be reporting to them one day :slight_smile: From a financial point of view, I agree with manch but you might want to consider other issues.


#7

haha, nope, fortunately. I just spoke with her, she’ll discuss over with her roomates and see if they can extend a year. I think manch’s advice is pretty reasonable. This is like over 60 days notice and we try hard to renew the lease without increase. I don’t think they can blame me much for it. And I just upgrade the backyard fence this week since it got so old.


#8

One other thing you could do is to group the future showings. You can arrange multiple showings back-to-back in 2-3 hours window, so this way, less inconvenience to them as well as your future tenants will see that demand is high and they will want to move quickly.


#9

Nice. thanks for the advice.


#10

I’m not a landlord, but… If they’re moving out by August 15, I wouldn’t worry about it. Gives you a week to show and paint etc. and you’ll have a new tenant by Sept 1. What schools are nearby to worry about? Do they start before or after that point? If by 2 months, you mean Oct 1, then yeah. That’s bad timing.

I hope they’re not going to just sublease to someone you didn’t approve of.


#11

I wonder if it is legally possible to incorporate sublease ban in the contract


#12

subleasing in not allow in the contract
I just have PM sent them a notice yesterday and have them move out at the end of contract on July 31 just to get things started. If they decide they want to renew a year next week , i’m okay with it too.


#13

Wow, Manch is pretty cruel. I would never do this to my tenant. Are liberals all fake?

After one year, I allow my tenant to stay month by month. Sometimes they do move out and create a vacancy, but other times they stay on and on. Why do we need to let the tenants fret over this? Give them time and they may find a new roommate and stay more years


#14

HKer believe in contract. I give them option to renewal. not even raising and did some upgrade for them. So right now they have around 2.5 months to look for a place or they have option to resign with me. I don’t think manch’s advice is cruel. And come on, people live in CA is liberal to some degree or tending toward in the middle. And i don’t want them to move out in the winter, it’ll be hard to find tenant and low rent


#15

[quote=“BAGB, post:13, topic:2381”]
After one year, I allow my tenant to stay month by month.
[/quote]I also allow that. For tenants changing jobs to out-of-town, month to month is suitable for them, chasing them out would mean they have to find temporary housing which is tough and expensive. Good to know we share the same philosophy.

[quote=“dioworld, post:14, topic:2381”]
…in the winter, it’ll be hard to find tenant and low rent…
[/quote]True but so far I’m able to rent out with no gap between tenancy. As I said, there are other issues to consider beside financial. Is also about, 做人, 对人.


#16

It goes both way
how about the tenant giving me some predictabiltiy, if they decide they want to leave on oct, I’ll be screwed. so basically will leave about 1-2 month empty with low rent. To you maybe not much, but to small new landlord it’s a lot

I give them option to renew, below market, especially if comparing to newer remodel house. All i want is just like manch said if they decide to leave in winter time I would be screwed. And i give them plenty of time , and choice is not in my hand, it’s on their hand. They have every option to renew the same contract same term like when they first sign.

It’s both way tenant to landlord too right? I cannot help them manage their life. If i know my contract is ending soon, i would prepare to negotiate or find a backup plan.


#17

Enough said :smile:


#18

Even if you get them to sign a new 1 year lease there is very little you can do if they break the lease. Your damages will be limited to the money you lose when they break it, and you must make a good faith effort to rent it right away. Try to settle this amicably.


#19

[quote=“hanera, post:15, topic:2381, full:true”]

Is that certain–that in winter it’s harder to find someone at the same rent? Plus you already said you didn’t raise the rent anyways, so your rent must be below market.

I thought around here, open houses had 40 people in 2 hours with people standing in line to give you their application first. I can understand the fear in 2009, but right now, things are hot.


#20

I think treating everyone fairly and politely is key. Tenants have their considerations and want arrangements that benefit themselves, landlords have theirs. Contract is contract. We uphold our end of the bargain, and they should do theirs.