The Case Of The Spooky Tenant

Written by Mark Walters


Continued from page 1

Is your reluctant tenant onrepparttar hook for an entire year's worth of monthly lease payments?

It brings a tear torepparttar 103144 eye of we hard boiled landlords... but he probably is not obligated to pay rent forrepparttar 103145 entire year.

Courts have ruled thatrepparttar 103146 landlord has to make a good-faith effort to find a new tenant forrepparttar 103147 unit as soon as possible.

As soon as one is foundrepparttar 103148 original crybaby is released fromrepparttar 103149 contract.

The cost of renting torepparttar 103150 new tenant can be deducted fromrepparttar 103151 security deposit you collected from Mr. Crybaby. That includes advertising and a copy of The Grinch Who Stole Christmas you give him as a go-away gift.



Mark Walters is a real estate investor and author. His published works can be found at http://www.CashFlowInstitute.com


"Joint & Several" In Leases

Written by Mark Walters


Continued from page 1

Here'srepparttar good news. If you have in your lease a "non-waiver" provision it indicates that even if you allowed lease violations inrepparttar 103143 past you can at any time demand that tenants comply withrepparttar 103144 terms ofrepparttar 103145 lease.

Ifrepparttar 103146 tenants continue to pay with two separate checks you can returnrepparttar 103147 checks and give "notice for failure to pay rent".

If they then fail to provide you with a single check forrepparttar 103148 full amount ofrepparttar 103149 rent you can file a forcible detainer action (eviction).

What if tenant #1 pleads that tenant #2 has moved fromrepparttar 103150 property and tenant #1 should only be required to pay their own half ofrepparttar 103151 rent?

Show them "joint and several" in your lease agreement and explain that tenant #1 is now responsible forrepparttar 103152 entire amount of rent.

Explain that tenant #1 must payrepparttar 103153 full amount and then can seek recovery of one half from tenant #2 in small claims court.

If you rent property to more than one tenant be sure your lease has "joint and several" and "non-waiver" clauses.

Carefully explain each to every new tenant.

Mark Walters is a real estate investor and author. His published works can be found at http://www.CashFlowInstitute.com


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