Our tenants have recently informed us that they will be vacating our house this within the next month, the lease is not supposed to expire until Jan. 2011. A few questions: can I try to rent the house now or do I have to have something in writing from them? Am I obligated to return the security deposit, or only if I can re-rent the house? And, if I am unable to rent the house, they are responsible for the rent until that date, correct? Thanks in advance!

They are responsible for the rent until the lease expires or until you can find a new tenant.

You can offer a buyout, generally two months rent. You do not have to return the security you can apply it towards the unpaid rental. You do have to make a good faith effort to fins a new tenant.

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Originally Posted by sudsy120

or do I have to have something in writing from them?

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Hello s:

To be on the safe side, you DO need something in writing... But, they don't have to write it. You could write them a letter outlining the conversation you had with them on the phone, and send it to them certified. That'll be the same thing. Well, not exactly the same thing, but for your purposes, it'll do.

excon

Most questions already answered, but to reiterate:

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Originally Posted by sudsy120

can I try to rent the house now or do I have to have something in writing from them?

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Sure you can. But don't sign a contract with a new lessee until you have something in writing from the old tenant. And consider making the new lease contingent upon the old lessee vacating the premises in a timely manner.

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Originally Posted by sudsy120

Am I obligated to return the security deposit, or only if I can re-rent the house?

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What's left over after deducting lost rent, damages, etc.

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Originally Posted by sudsy120

And, if I am unable to rent the house, they are responsible for the rent until that date, correct?

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Yes, until Jan. 2011.