If a homeowner hires a property manager to rent his home, and the renters break the lease?
If a homeowner hires a property manager to rent his home, and the renters break the lease halfway through the rental period, does the property manager still have to pay the owner for the full rental period?
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Tags: Break Lease, lease property, Rental Period
lease property | , 14 Feb 10
By Grace777, February 15, 2010 @ 8:11 am
No! Your property manager wasn’t the one to break the lease…Your tenants broke the lease! Your property manager was hired to MANAGE the property (not to lease it themselves).
If your contract specifies it, your tenants are obligated to pay for the remainder of the rental period. Some companies charge a flat rate (also called a “reletting fee”) to renters that break their leases early. If you didn’t specify this in your contract (lease agreement), they are not legally bound to pay you for the entire rental period (deliquent amounts only).
By wayfaroutthere, February 16, 2010 @ 1:15 am
Doubtful–check the agreement with the property manager. If they gave you that kind of guarantee, you paid for it with higher fees. I doubt any would guarantee that they could keep tenants in there for you.
By Ben W, February 18, 2010 @ 4:31 pm
No, not in my experience. The lease made by the manager with the resident should incorporate a financial penalty. That cancellation fee should alleviate any temporary hardship the owner may encounter while the manager seeks new tenants.
By Loli M, February 19, 2010 @ 1:39 pm
Only if the contract is wrtiten that way. Most management contracts do not include such a clause.
By satarnag, February 20, 2010 @ 6:38 am
no, not at all. Thecontract was between you and the tenant. You will need to go after the tenants.
Regards