termination of lease

[miss.ryte]

I have a rental property in New York that's currently occupied by a couple who has decided to split up. Their lease ends in May but the husband has already moved out all of his things and has found a new place. Today they have informed me that worse case scenario they will pay rent for another month (FEB) but the wife can not maintain the space on her own and is currently looking for new diggs as well. What is the penalty for early termination of a lease?

 

[FarmerJ]

You do not have to grant early termination , BUT once they have returned 100 % control of the unit to you with it totally empty you need to go in and assess for damage and get your deposit disposition done ASAP so you can determine if damage exceeds the deposit. You can also begin to find new tenants to replace them and are entitled to be paid rent for every day the unit sits empty while your looking for a new customer to replace them. If your state law does not bar you from collecting unpaid rents out of damage deposit funds then make sure your deposit disposition letter addresses that and make sure you send it out via confirmed mail delivery.