Renters want out of lease : ezLandlordForms

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Renters want out of lease

Kira N

started a topic about 16 years ago

We have have rented our house to two couples with a one year lease. After three months one of the couples would like out of the lease. What is a typical buyout option, or is there a better way to go.

2 Comments

Denise S

said about 16 years ago

If the tenants and the landlord agrees to release the "other couple" from their obligations, then you can go that route. But......if you feel that the "other couple" will not be able to afford the rent on their own, then you may want to continue making the "other" couple remain responsible, at least for the balance of the lease term. I would not return any of the security deposit until both couples vacate and there is no damage.

Inga C

said almost 16 years ago

I have the same situation in which 1 of 4 people would like out of the lease. The remaining tenants will assume the financial obligation and this is fine with me but is there a formal form that the tenants should sign?