Full question:
Our tenants have requested to be excused from their 1 year lease after 3 months. There were problems at the complex that they did not advise us of until they notified us of their wish to leave. They want to move as soon as possible even if that means paying a penalty. It took us several months to find good tenants and I believe it will take some time to find new ones. I don't think they understand how much work that is. We will also need time to do touch-ups, run credit checks, and meet with tenants they've pre-screened. My husband and I both work full time so as you can imagine.... <br /><br /> What is a standard/reasonable early lease termination penalty for a $1450/month unit? What is a reasonable overall expectation on our parts? We don't want to be difficult but it is a hardship for us in time and money.
- Category: Landlord Tenant
- Date:
- State: California
Answer:
This situation depends on the lease terms and California regulations. Generally, if tenants terminate the lease without just cause, they are responsible for the full year's rent. You can negotiate a settlement amount up to that total as a lease termination fee. If the tenants are legally terminating due to issues with the property, they may not have to pay a termination fee. California has many laws regarding tenants' rights, so reviewing the lease is important. Practically, it may be beneficial to discuss and agree on a reasonable solution with the tenants. Whatever agreement you reach should be documented in writing.
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