Evicting your son, a rogue bicycle, and what the housing crisis in Toronto can teach landlords are all In the News this past week. We also cover a landlord hotline call on dealing with a tenant that breaks the lease early.
Click the Green Play Button To Listen To Episode #209
Thanks for listening!
Eric, just listened to podcast 209 where Tenant breaks Lease early. Unless New York’s laws are different from Illinois Law, both tenants or 1 Tenant can be held responsible for the FULL MONTHLY rent regardless if 1 tenant has moved. Again in this situation (according to Illinois Law), the Lady can hold the remaining Tenant responsible for the FULL MONTHLY rent, not just the remaining Tenants share. I do agree with you on your advice to her. Because if she takes the guy to court most likely she will be out of more money than what she collects. Therefore even I would make reference to their Lease clauses, and the Law as you stated, keep security deposit, apply to damages first and then unpaid rent.
Thanks for the insights Jessie.
Typically the renter is on the hook for the remainder of the lease term but in some states the landlord must end payments once the apartment is re-leased to new renters.
Sorry if I was confusing with that on the podcast.