What If A Tenant Has A Job Transfer?
Upon signing a lease agreement, you are most likely to expect your tenant to stay for the entire term agreed upon. The fact is that most tenants stay even longer, often renewing for a few years. However, there are times when life throws someone a curveball, and they must break their lease.
One of the most common reasons is a tenant’s employer, transferring them to another location. What should you do? It is a judgment call; however, we do find open communication with the tenant regarding the best situation for all parties. Here are a couple of scenarios and our recommendation:
A new tenant without a long payment history: we recommend sticking to the lease agreement for as long as possible. You can ask them if their employer is willing to subsidize the remainder of the lease term rental payments. Perhaps they were given an incentive to relocate by their employer, which can be applied towards rent on your unit. Legally they are responsible for the rental payments for the duration of their lease contract.
A long-tenured tenant with solid payment history: this is where we recommend greater flexibility. Perhaps you come to a mutually accepted end of lease date. Maybe they have a friend or co-worker that may be interested in renting their unit.
In either case, if you allow them to break the lease, they can be required to have the unit professionally cleaned and pay the broker rental fee. Additionally, they can be required to pay the rent until the unit is rented again to qualified applications.
These conversations can be difficult because they must move fast. Hopefully, the tenant read their lease and are at least generally aware of their obligations.
