What if Renter backs out of commitment?

[sshultz]

We are going to rent our house for a period of two weeks next year during the 2002 Winter Olympics.
We are asking for 3 payment installments over the course of the year.
What if they decide not to come after they have paid the initial deposit and we are not able to re-rent it?
We would like to add a clause in our rental agreement specifying this situation and our recourse.
Thanks much,
Susan

 

[djdj]

How about all payments must be made BY..(date) say 60 or 90 days before the 2 week rental.....renter acknowledges if all monies are not paid by the date , the landlord may re-rent the place, renter would be liable for all damages, advertisements, and legal fees, and costs,and anything left over will be reimbursed to the tenant within 30 days after the close of the olympics.

and the damages would include not re renting it .....therefore the renter would get ZERO!

Suggestion: if someone did back out, make sure you try and rerent it at a lower price....

I mean you could go after them for the full amount, but of course that would require a lawyer etc....may not be worth it in the end.


[Edited by djdj on 01-14-2001 at 11:19 PM]