Tenant wants to leave early?

Tenant wants to leave early?

0:04 AM, 30th August 2023, About A year ago 23

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Hello, I have a tenant that wants to leave at the end of month 8 of a 12 month tenancy as he has bought somewhere. What should I do?

He is offering to make a settlement to cover costs.

I self manage and don’t really want the work, although I can probably get 8% more rent.

I know legally I can keep him to terms of tenancy for 1 year.

Thank you,

Chris


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Puzzler

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9:13 AM, 30th August 2023, About A year ago

If you don't want the work, employ an agent. You'll have to do it in four months time anyway. Yes the tenant is liable until the end of the fixed term but the courts do not look favourably on landlords who do not accept a reasonable offer to cover costs and make no attempt to re-let the property. Once re-let or potentially re-let the former tenant is not liable. In the current market it will re-let quickly so you don't have a case

Old Mrs Landlord

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10:28 AM, 30th August 2023, About A year ago

As Puzzler says, pay an agent if you don't want the work yourself. I would add that September is a much easier time to relet a property than the Christmas/New Year period when only a few desperate people are actively looking to move and you will have to heat the property fully for viewings as well as pay more council tax and utilities costs since any void period is likely to be longer. Costs covered by outgoing tenant and higher rent - don't look a gift horse in the mouth.

RoseD

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11:13 AM, 30th August 2023, About A year ago

I can't believe you posted this. You are a landlord aren't you? Albeit a lazy one by the sounds. How would you be if your tenant just left as many do regardless of agreements. Do the proper thing. Accept he's one of the better tenant's having purchased a property and requesting early release. As already pointed out a better time to relet plus more rent.

Richard Hemingway

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11:13 AM, 30th August 2023, About A year ago

Seriously????
Costs covered by the tenant that you would have to pay in 4 months time anyway. An opportunity to increase the rent. You keep the tenant happy and allow them to move onwards and upwards, why on earth would you hold them to the contract, it's a win-win situation?

What should you do....have a word with yourself for a start.

Judith Wordsworth

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11:15 AM, 30th August 2023, About A year ago

Accept the tenants settlement offer, and re let at more than you are currently getting.

Recent reports state now approx 20 prospective tenants for every property

David Smith

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11:33 AM, 30th August 2023, About A year ago

As long as you do not loose any money in the deal like agents fees you may have paid for the term plus any voids.
I have previously refused a tenant’s request to vacate early as they were not willing to cover my losses.
But as others have mentioned an empty property over Christmas is not great.

Warwick Marsland

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11:43 AM, 30th August 2023, About A year ago

I've just had a similar situation. My tenant had serious health issues which meant he could not work. He admitted that he could not keep up the rent payments and asked to leave at the end of the current month. He has since moved in with friends who can look after him. It was all amicable. It gave us a chance to upgrade the electrics. redecorate and generally get the property back in tip top condition. We can now increase the rent to cover our increased costs which we were carrying before.
So what I am saying is let your tenant go in good grace, especially if he's offering a settlement, and turn it an opportunity. If you don't want the headache of managing your property use a reliable agent. We do but tend to be hands on with problems as well. That way you have mutual respect with your tenants.

GlanACC

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12:00 PM, 30th August 2023, About A year ago

What a daft question, let him go ... then sell

JeggNegg

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12:17 PM, 30th August 2023, About A year ago

accept their early vacation request. will they be giving you 4 weeks notice? in current market you should find a new tenant in that time. if you employ an agent you will have to put in minimum effort, and should net a small increase in rent.
or you have vacant property and you can sell it
thats a win -win surely!

GLB

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12:20 PM, 30th August 2023, About A year ago

Reply to the comment left by Jonathan Cocks at 30/08/2023 - 12:17
My suggestion is just let the tenant go. This is a blessing in disguise for you to get a higher rent. The tenant appears to be a reasonable professional.

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