Some managers do not do less than a 1 year lease. One Homeowners Assoc where I used to have a rental required at least 1 year lease and they had to also approve a tenant. Most landlords I know (which is not to be confused with “most landlords”) do not rent on a month to month basis.
What they should do is indicate their situation with the landlord and see what they can negotiate.
Posted by Charlotte on August 14, 2008 at 16:39:36:
We have been trying to sell our house for almost a year. We are moving to the town that my parents live in and have stayed w/ them for school reasons for my children. This arrangement is getting very old and we are considering renting until our house sells.
Is there anyone in the Dayton,OH area interested in buying an investment home?
If we DO sign a one year lease on a rental and our house sells, do we legally have to pay the remainder of the year’s rent? My husband thinks we just lose the deposit and that the landlord would probably not want the hassle of taking us to court for the rest. I don’t know. What is the legal standing on this. I appreciate the advice. Thanks in advance.
Don’t get on bad T database - Posted by John Merchant
Posted by John Merchant on August 25, 2008 at 09:27:18:
These days the Landlord/Rental Organizations frequently maintain large databaes on bad tenants who have been court evicted so you don’t want your names included thereon.
I’d sure try to work out some kind of plan with your LL so you’re not evicted and don’t then get a bad report that’d follow you wherever you went.
LLs fully expect that their evicted Ts are going to leave the place trashy, carpets ruined, etc. so it’d go a long way toward mollifying that LL if you leave it spotlessly clean and move-in ready for next T.
Posted by Alexander (FL) on August 18, 2008 at 16:47:34:
Who says you have to sign a one year lease?
Find the house you like and explain your situation with the owner.
You can do a six month contract, renewable every month.
You may even be willing to pay a higher monthly rent instead of worrying about breaking the lease and loosing your deposit.
First, read the lease and see what it says. Mine says that a tenant who moves out early owes rent until its re rented or the end date on the lease whichever comes first. It also adds fines and fees to rent if not paid. At the end of the lease period I take the entire file, plus damage repairs, re keying for the property (because an early departure makes me pay for it more often than normal) and I send a letter asking for payment. If I do not get payment within 14 days, I turn the entire file over to collections. The 50% collections fee gets added to the top. The debt immediately goes on the credit report and stays there until paid. If you are in a state we have decent courts in, we will get a judgment and garnish your wages. Since you own that house I would attach a lien to the house for the amount of the judgment. The amount of time between being shafted by a tenant and turning everything over to collections is 30 days after the lease expires or we get a new tenant. I make no exceptions to this.
Oh and the cost. Its worth it, so don’t count on you landlord being lazy. This is a business and breaking any contract has penalties. Payment of rent to the end of the lease is the normal penalty for breaking the lease. The security deposit is primarily for fixing things you broke and cleaning if you don’t leave it in exactly the same condition you got it in (including the professional cleaning and carpet cleaning).
If you get burned a few times trying to be the nice guy, eventually you either sell off all your rentals or you get real hard about people who do not live up to what they agreed to do.