Rental Property: Legal Question

• ernest_t_bass

  

  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."
• fan_from_texas

  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.
• password

  

  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?
• derek bomar

  

  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
• ernest_t_bass

  

  derek bomar;950560 wrote:you're getting your mortgage paid for, so yes, you are getting a few dimes

  
  No, not really
• Sonofanump

  ernest_t_bass;949426 wrote:That one "6-month" part, we forgot to change to "1-year."

  Whoops, sounds like a contract to me.
• thedynasty1998

  

  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.
• ernest_t_bass

  

  I got, in writing, that they will pay me rent on a weekly basis, starting next Friday.
• Con_Alma

  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.
• DeyDurkie5

  

  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.