I purchased my home (duplex) on March 31. At the end of Jan., I had actually rented on unit, and the second was rented to another tenant. I didn't modify the lease because it seemed sufficient (I've never owned property). The tenant signed a 1 year lease, due up Jan. 31, 2006.
On Monday, my tenant informed me that he and his wife are moving to Kansas this upcoming weekend (5 days verbal notice). He has a cousin who would like to take over his lease. I have met these people, and do not have a problem w/ them renting the apartment. The lease does not mention anything about paying additional rent, forfeiting the security deposit, etc. if they do not give adequate notice (60 days written in FL), however, it does say that some or all of the security dep. can be forfeited if any or all parts of the lease are broken. If his cousin signs the lease between now and Sat., and pays for Sept. rent (tomorrow), I assume I wouldnt be able to obtain the same rent from the current tenant, but can I keep the dep. as breach, and then collect the dep. again from the "new" tenant? I would only extend their lease through the end of Jan as well. So far, I have been unable to contact the tenant or his cousiWhat you can usually collect when somebody breaks a lease is rent until the unit is rented (if it sits vacant a long time-then rent just keeps going until you find a new tenant-up to the end of the lease) you can also collect advertising and re-leasing fees-like if you paid an agent to list the property for you.
Well first of all-in most cases if you actually have a new tenant-you CANNOT keep the whole deposit as a breach because the courts would say that once rent starts again the situation is remedied.
What you can usually collect when somebody breaks a lease is rent until the unit is rented (if it sits vacant a long time-then rent just keeps going until you find a new tenant-up to the end of the lease) you can also collect advertising and re-leasing fees-like if you paid an agent to list the property for you.
Now if you don't get everything done and nobody takes the unit and the unit sits vacant-THEN you can take the deposit and start a tab for all the expenses. Once the unit is leased out again and you know what your damages are-THEN you either turn the debt over to a collection agency OR sue the first tenant in court.
Also-don't forget to do a full tenant screening and credit check for the new tenants. I see landlords get "taken for a ride..." all the time when "somebody they know..." wants to take over a lease. It's alos a good idea to insist on TWO landlord references and make sure one is a professionaly propert mgt company.