Rental Property: Legal Question

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ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Oct 29, 2011 4:13 PM
thedynasty1998;949337 wrote:You had a horrible lease. Who the hell told you to give them a 6 month option? With that said, you are entitled to money, but it's a hassle to collect. It's not worth hiring an attorney and in all likelihood the judge sends you to a mediator where you will end up agreeing to half.

It started as a six month (because we were leaving it on market) then after one month, we opened it back up to a 1-year lease. That one "6-month" part, we forgot to change to "1-year."
Oct 29, 2011 4:13pm
F

fan_from_texas

Senior Member

2,693 posts
Oct 29, 2011 5:31 PM
thedynasty1998;949337 wrote:You had a horrible lease. Who the hell told you to give them a 6 month option? With that said, you are entitled to money, but it's a hassle to collect. It's not worth hiring an attorney and in all likelihood the judge sends you to a mediator where you will end up agreeing to half.

This. If you really think it's worthwhile, consult an atty.
Oct 29, 2011 5:31pm
password's avatar

password

Senior Member

2,360 posts
Oct 29, 2011 7:20 PM
Your lease is fucked up at best. You are entitled to the rent and utilities for the month of November and the tenant forfeits the deposit for not honoring the lease. I doubt if they pay you for November so you are out of luck there. Attorney fees will be much more than the one month of rent you could receive, not worth the hassle. You may want to start posting the details of the house in the Buy/Sell section of this site and hope that someone needs a place to live. What city is it located in?
Oct 29, 2011 7:20pm
derek bomar's avatar

derek bomar

Senior Member

3,722 posts
Oct 30, 2011 10:07 AM
ernest_t_bass;949081 wrote:Also, my wife and I take a hit on this rental every month. Mortgage is $675/month and we charge them $650. Not big, but we are not making one dime on this house.
you're getting your mortgage paid for, so yes, you are getting a few dimes
Oct 30, 2011 10:07am
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Oct 30, 2011 10:20 AM
derek bomar;950560 wrote:you're getting your mortgage paid for, so yes, you are getting a few dimes

No, not really
Oct 30, 2011 10:20am
S

Sonofanump

Oct 30, 2011 10:30 AM
ernest_t_bass;949426 wrote:That one "6-month" part, we forgot to change to "1-year."
Whoops, sounds like a contract to me.
Oct 30, 2011 10:30am
thedynasty1998's avatar

thedynasty1998

Senior Member

6,844 posts
Oct 30, 2011 10:38 AM
ernest_t_bass;949426 wrote:It started as a six month (because we were leaving it on market) then after one month, we opened it back up to a 1-year lease. That one "6-month" part, we forgot to change to "1-year."
Forgot? Legally speaking, that's not a great defense.

I think the consensus here is to keep the deposit and move on. It would be worth sending them a couple letters threatening legal action to see if that scares them. But in all likelihood you won't receive another penny from them.
Oct 30, 2011 10:38am
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Oct 30, 2011 11:06 AM
I got, in writing, that they will pay me rent on a weekly basis, starting next Friday.
Oct 30, 2011 11:06am
C

Con_Alma

Senior Member

12,198 posts
Oct 30, 2011 11:37 AM
ernest_t_bass;949081 wrote:Also, my wife and I take a hit on this rental every month. Mortgage is $675/month and we charge them $650. Not big, but we are not making one dime on this house.
Although you may not have positive cash flow on a monthly basis a good account would put you in a positive balance each year with this situation.
Oct 30, 2011 11:37am
DeyDurkie5's avatar

DeyDurkie5

Senior Member

11,324 posts
Oct 30, 2011 8:53 PM
Con_Alma;950626 wrote:Although you may not have positive cash flow on a monthly basis a good account would put you in a positive balance each year with this situation.
thanks for that insight.
Oct 30, 2011 8:53pm