These are the checklists related to Tenant Hold Over.
When you click on the task, you can also see the tags that task is filed under. You can also click on the tag to see other tasks with that tag.
- Complete the "Tenant Hold Over" Checklist
https://RealEstateFinancialPlanner.com/tenant-scenario-tenant-hold-over/
Once you have completed all the tasks on this checklist mark as done.
Resolving Challenging Tenant ScenariosTenant Hold OverUltimate Nomad Checklist
- Be Proactive
Try to prevent this scenario by reminding tenant of the date they need to be out by:
- Contact tenant 30 days out
- Contact tenant 15 days out
- Contact tenant week of
Confirm they will be out on time. Remind them what happens if they do not vacate the premises on time.
- Go Over Lease with New Tenant
The lease we use stipulates that the landlord has 10 days to get the previous tenant out before the new tenant can terminate the lease.
Go over your terms with any new tenants so if this scenario happens they will not be blind-sided.
- Get Forwarding Address
Get your tenant's forwarding address.
This will be the address you mail the remainder of their security/damage deposit to.
- Get Exact Move-Out Date
Most tenants will be out several days before the final date they must vacate by. Get the exact date of their move-out.
- Start Eviction Process
If the old tenant is not out on the day they are supposed to be out, immediately post a 3 day demand for compliance.
- Collect Rent From Hold Over Tenant
Charge the old tenant rent at 110% (or 10% per day) whatever the lease says.
- Do Not Charge New Tenant Rent Until Move-In
Don't charge the new tenant rent until they are able to get the keys and actually move it.
You may also consider pro-rating the rent for the days they were inconvenienced or making some other arrangement to smooth things over with them.