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Inanimate objects are classified scientifically into three major categories - those
that don't work, those that break down and
those that get lost.
Dear Dave
I own a one-bedroom condo that Im using as a
rental property. The current tenants old agreement is up soon, but she signed a new lease less
than a month ago and gave me a deposit, plus
the first months rent. Just the other day, she
called and wants to back out of the agreement.
She said she discovered after she signed that her
ex is having serious health problems, and she
needs to move to help take care of their kids.
What do you think I should do?
~ Flavia
Dear Flavia,
I own a bunch of rental properties, so I know for a fact that as a landlord you run into all kinds of situations. Some are more genuine than
others. I would want some proof as to whats going on, but on the
surface it sounds like shes got a valid reason for wanting to cancel
the agreement.
Basically, shes asking for your understanding and mercy. If it were
me, and what shes said turned out to be true, Id try to lease the
place to someone else as quickly as possible, and Id refund her the
deposit plus any money it doesnt cost you in the process. In other
words, if it took two weeks to find another tenant, then Id give back
the deposit and two weeks rent. Of course, if shes in really bad
shapeand youre on solid enough financial ground to withstand the
blowyou could let her out of the agreement completely and move
on to finding another tenant.
You dont want to profit from someone whos genuinely struggling.
But you have to look out for yourself and, if possible, try to break
even. Regardless, I wouldnt take advantage of anyone whos truly
going through hard times. Thats just not right.
~ Dave
Sudoku
Solution
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Its a Fact!
Between the years 1912 and
1948, art was considered an
Olympic sport and works of
art from architecture, literature, music, painting and
sculpting were awarded medals.
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