What To Do If Your Tenant Wants to End Their Lease Early - The Rent Report

Описание: In this conversation, MacKenzie Wilson and Hart Togman discuss the complexities of early lease termination from both a landlord's and tenant's perspective. They explore the legal obligations, the importance of maintaining good relationships, and the various options available to landlords when a tenant wishes to break their lease. The discussion emphasizes the need for clear communication, understanding tenant rights, and the necessity of mitigating damages. They also touch on the significance of educating tenants about their responsibilities and the implications of lease agreements.

Key Takeaways:
Early lease termination is a common issue for landlords.
Checking the lease agreement is crucial when a tenant wants to leave early.
Maintaining a good relationship with tenants can ease the process of lease termination.
Landlords should educate tenants about their contractual obligations.
Mitigating damages is a legal requirement for landlords.
Lease break fees can be charged to tenants who leave early.
Subletting and lease assignments are options for tenants wishing to leave.
Landlords must actively work to find new tenants to mitigate losses.
Tenants often misunderstand their rights regarding lease termination.
Educating tenants on proper notice periods is essential.

Chapters

00:00 Understanding Early Lease Termination
02:57 Legal vs. Relationship Approaches
06:10 Mitigating Damages and Lease Break Fees
08:53 Subletting and Lease Assignments
12:10 Navigating Contentious Situations
15:00 Educating Tenants on Their Rights

About the Hosts:

Mackenzie Wilson (  / mwyyc  ) - Founder of Alberta Landlord Community (  / 1aztqcpoaq  ) - Alberta's largest Facebook group for landlords and SingleKey (https://www.singlekey.com/en-ca/) Director of Customer Engagement, Canada's largest and goto tenant screening service.

Hart Togman (https://www.linkedin.com/in/hart-togm...) Founder and CEO of Rent Panda (https://rentpanda.ca/) - an Ontario wide Rental Service provider (property management, leasing, paralegal services) that believes everyone can be a landlord and offers the rental services to make it possible!