Owning a rental property comes with its fair share of challenging situations, especially if you’re not working alongside a property management company.
As a local property management company, we understand that a common issue Brevard County landlords face is their tenants breaking their lease agreement. Unfortunately, if you’re a landlord, you’ll likely encounter this at least once while renting out your property. When a tenant breaks their lease, it can significantly affect your financial situation and cause a lot of undue stress. In this article, we’re sharing some tips on what you can do if your tenant breaks the lease.
What happens if your tenant vacates early?
If your tenant vacates your rental property early, the first thing you should do is look at your lease agreement and check if it includes a default or early termination clause. If it does, you must follow the terms of your lease agreement as stated.
However, if you don’t have an early termination clause in your lease agreement, you should add one as soon as possible. Creating expectations for future tenants helps them to understand their responsibilities.
Once you’ve confirmed the lease default penalty, you should ensure that the terms are adhered to by all parties. For instance, if the lease states that two months is required to break the lease agreement, you should ensure this is completed before your tenant vacates the premises.
What happens if a tenant vacates without notice?
If your tenant vacates without prior notice, they will likely be breaking their lease; however, collecting the lease break fee may be challenging.
If you cannot reach your tenant, you must complete the security deposit disposition. This is a notice a landlord must provide to claim their security deposit. If necessary, include your lease break fee in the security deposit claim form. If you’re unsure about the laws regarding security deposit requirements, contact your property manager or real estate attorney.
One significant benefit of using a licensed property manager is they can send the tenant to collections to recoup the outstanding balance due on your behalf.
What are reasonable lease break fees in Brevard County?
Typically, most landlords require a two-month lease break fee from their tenants.
What can you do if your tenant breaks the lease?
If your tenant breaks the lease, you must follow the terms of your lease agreement. You should refer to your state requirements if your lease does not have a default section. For instance, in Brevard County, Florida, Statute 83.595 says a landlord can charge up to 2 months of rent for lease default.
To avoid legal issues, be sure you confirm your state requirements to determine what you can charge a tenant for breaking their lease agreement.
Consider hiring a property manager
Every landlord dreams of a long-term tenant who stays for years and takes care of the property. Unfortunately, this is not always the case, and tenants must move on due to job relocation or other life-changing circumstances. To protect yourself and your property, it’s important to know your options if your tenant breaks their lease.
If you want to optimize your rental income while reducing your stress and liabilities, consider hiring a professional Brevard County Property Management Company. An experienced property management company can help ensure you don’t face extended vacancies in your rental property—even if a tenant breaks their lease. Click here to learn more about Rent In Brevard Property Management’s rental management solutions.