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Breaking up is hard to do - even when youu2019re a landlord in the midst of a tenant breakup. Managing tenants can be tricky business, and making it through a separation unscathed isnu2019t always easy. It's important for landlords to prepare themselves properly before something like this happens so they know exactly how to handle things if their tenants decide to split. So if you're dealing with a tenant breakup, don't panic. In this post, we'll discuss all the steps. https://articles.ezlandlordforms.com/general-property-management/what-happens-when-your-tenants-break-up/
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IfATenantBreaksUp WhatIsTheBest WayForALandlord ToHandleIt?
Breakingupishardtodoespeciallywhenyou'rethelandlord. It'salwaysabitawkwardandconfusingwhentenantsbreakup in your rental - wholeaves, whostays, what happens with the lease?Youdon'tnecessarilyhavetoworryabouthavinga brokenheart,butlast-minutetenantsplitupscanbringon someseriousheadachesiftheyaren'thandledproperly.In this post,we'llcoveryouroptionsasalandlorddealingwith tenantsthatwantoutoftheirleaseearlyduetorelationship troubles.Let'stakeaninformativeandhumorousdeepdive intowhathappenswhentenantsbreakup.
First and foremost, don't panic. This is a situationthatcan behandledwitha level head and a clearmind.
Talktothetenantandtryto cometoanagreement.It's possiblethatthetenantwill wanttostayintheunit,but will agree to pay a higher rent. If this is the case, it's important to get the agreementinwriting.
Ifthetenantwantstomove out,workwiththemtofinda new tenant. This can be donebyadvertisingtheunit onwebsiteslikeCraigslistor byworkingwithalocalreal estateagent.
Onceanewtenantisfound, havethemsignanewlease agreement.Thiswillhelpto protectyoufromany potentiallegalissuesthat mayarisefromtheprevious tenantsbreakingtheirlease.
Finally,it'simportantto keepcommunicationopen withthenewtenants.Let themknowthatyou're availableiftheyhaveany questionsorconcerns.