Which type of agreement/tenancy do I need?
3 years ago | 13 comments
Tenant wants to leave early?
12:04 AM, 30th August 2023, 3 years ago
23
Hello, I have a tenant that wants to leave at the end of month 8 of a 12 month tenancy as he has bought somewhere. What should I do?
He is offering to make a settlement to cover costs.
I self manage and don’t really want the work, although I can probably get 8% more rent.
I know legally I can keep him to terms of tenancy for 1 year.
Thank you,
Chris
23 comments on this article
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Member Since January 2023 - Comments: 9
12:08 PM, 2nd September 2023, About 3 years ago
You’ve found a valuable asset in him; collaborate with him. If you’d rather avoid this situation, consider selling your stake; it may not be the right fit for you.
Member Since July 2015 - Comments: 20
5:10 PM, 2nd September 2023, About 3 years ago
It seems quite obvious to me that you should just let them go, and if you’re making them pay a settlement over and above getting 4 weeks notice, then in my view, that’s shameful. Put yourself in their shoes for a moment, and think properly about what your attitude says about you.
Member Since September 2023 - Comments: 133
10:08 AM, 4th September 2023, About 3 years ago
In theory the tenant is responsible until the end of the fixed period.
In practice you must mitigate your loss.