Your tenant reaches out to you and asks if there’s a way to get out of their lease! Oh crap, what do you do?
Believe it or not, this has happened to us in our management company multiple times during COVID-19 but also prior to that. So, what do you do?
As you’ve probably noticed from previous posts, our company is a firm believer of treating others as we would want to be treated. I believe we are firm, but fair. People’s lives change and circumstances change and if there’s a way we can work together, I believe we should. However, I also believe that the tenants problems should not become my problems, or my clients problems.
Our approach has not changed in how we deal with these issues. We make it very clear with the tenant that while we are open to letting them out of the lease, they are responsible for the lease until we find someone to rent the unit.
We then begin the unit to prospective tenants. In some instances, we are able to find a new tenant within weeks, some properties we are not so lucky. However, they are responsible for continuing to pay the rent.
Remember, your tenants are your customers and it’s in your best interest to work with them. After all, they are paying your mortgage. Treat others as you want to be treated and you will do well in this business.
To our Mutual Success,
Welcome Home Management