Start a new topic

Lease ending 1 year

My lease states that  Lease term has expired or agreement has been terminated, does this mean tenants must be out the final date of the lease.  It also states under the Renewal/Term It is the intent of both parties that this lease is for a period of 12 months and that the last months rent will apply only to the last month of the lease period. should this lease be breached by the resident, both last months rent and the indemnification deposit shall be forfeited as liquidated damages and the resident will owe rent through the last day of occupancy. Hold Over: Resident shall deliver possession of residence in good order and repair to Management/Owner upon termination date Resident will be charged a fine in the amount of his/her residency beyond stated termination date Resident will be charged a fine in the amount of $50.00 per day for denying full use of the property to the incoming resident.  Does this mean that at the end of the term the tenant must forfeit possession of the unit and no written notice has to be given since I have an hold over clause, this is for the state of Colorado, my lease does not indicate any where that it would fall to a month to month after the 12 month term ends.

Karen, why take a chance. Send them a letter that their lease is terminating at (time/date), you will not be renewing the lease, and they must vacate the premises.  . -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” However, it is up to you to become familiar with Fed/State/Local and Tax Laws. I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance. BTW...check out the Rental Property Organizer at Free Trial Download. A great program at a great price! Check it out.
Thank you for your help, I believe here in Colorado a lease that is one year or more the period is 90 day notice of non renewal, however I once received a notice that was 30 days about 14 yrs ago my lease would not renew as my son had a friend at the pool with him (age 16) that knocked over the ash tray of sand for cigarettes into the pool. Which I never found out until I received the notice and it was one month notice.    I will check out the Rental Property Organizer as I now help manage some of my father in laws properties here and he now lives in Florida.  Thank you for your help. Karen
My pleasure and my thoughts about the program. I think you will like the simplicity of the program and how easy it is when it comes time to view or print out (pdf) information at tax time. The 1st time using the program it took me about 20 minutes to save the info as pdf so I could send it to my Tax Preparer. She was impressed. At $50 you can’t go wrong. I also like the fact that it’s on my computer and not in a “cloud” and Simp-List is always there to help at no cost unlike other software companies.
Login to post a comment