I have joint tenants and one of them is moving out by mutual agreement (the right one is staying ...). My PM is telling me this is a "break lease" situation, and to safeguard my rights as an owner, we need to do a new lease. Not only that, but a Final Inspection. They said that the bulk of the break lease fees will be payable by tenant but they also want to charge me a lease renewal fee (half a weeks rent).
I'm very happy that the right tenant is staying as she is looking after the property. From my understanding, this isn't a break lease situation, I've checked with Department of Consumer Protection. The latter advises that as long as both tenants write and sign that the other tenant is now responsible for all costs, there is no need for a new lease to be done.
Either way - new lease or not, I don't understand why the PM is charging a bunch of fees just to type up a new doc?
Can anyone clarify? Thanks
I'm very happy that the right tenant is staying as she is looking after the property. From my understanding, this isn't a break lease situation, I've checked with Department of Consumer Protection. The latter advises that as long as both tenants write and sign that the other tenant is now responsible for all costs, there is no need for a new lease to be done.
Either way - new lease or not, I don't understand why the PM is charging a bunch of fees just to type up a new doc?
Can anyone clarify? Thanks