• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Help with Renter

Status
Not open for further replies.

Colorado Guy

Thread Starter
Member
Joined
Feb 9, 2003
Professional Status
Certified Residential Appraiser
State
Colorado
Hello

I'm a first time landlord. Have rented/leased by ranch for over 3 years and all has been well - up until this month.

I rec'd a call from my renter about 2 weeks ago stating they wanted out of the lease. Lease runs from Dec 1, 07 until May 1, 08 and is a strong lease (prepared by a RE Attorney). I have called 6 or 7 times to return the call, but it just goes straight to voice mail. I do have their SSAN and DL #s.

March 4 (tomorrow) the rent is 3 days late. There is a late clause in the agreement. I have prepared a 3-day Demand Letter and will post this on the front door tomorrow. Then the fun of kicking them out of the home begins. In Colorado I understand this takes about 2 week.

I have already placed the property on the local MLS (rent or sale).

I was just looking for any constructive advise from you all (other than do not be a landlord - believe me if I could sale this I would!)
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
If they really wanted out of their lease (DUE in May), offer to let them out IF their rent is current and have not damaged the house. I hope you got an adequate security deposit. Do not reimburse them the deposit until after they move out and you have inspected the house. Make a list of any damages then deduct all labor and materials from their deposit. You will have to sue in small claims court to get a judgment for unpaid rent and damages that exceed their deposit. However, this is California law and it might be different where the rental house is located.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks