The Top Reason Tenants May Break Their Lease

Having a roof over your head is essential and important to everyone. Tenants don’t break their lease without a reason. Typically, a significant life or financial event must occur for a tenant to break their lease. This article will review some of the top reasons why tenants may break their lease.

A Significant Life or Financial Event Is Preventing Them From Continuing To Live There

The most common reason why tenants break their lease is because they simply cannot continue living there anymore. This can be for many reasons, including the loss of a job or loved one. If a tenant no longer has the financial stability to pay their rent, they may decide to cut their losses and pay their fee rather than continue to go into debt. In addition, medical emergencies, family emergencies, or the death of a loved one may mean that they must move immediately. While it isn’t an ideal scenario for the landlord or the tenant, it does happen, and it can leave a tenant with no other options.

The Property Has Not or Is No Longer Meeting Their Expectations

While it is likely that most tenants will put up with a less than ideal property until their lease is over, in extreme circumstances, a tenant will decide to leave. This could be because what they were promised or advertised is not there or because the property has fallen under new management and left in disarray. It could also be the management itself rather than the physical property not meeting expectations. If a tenant views management as being extremely unfair, unreasonable, and feels as though they are not doing their job, this can cause a tenant to leave as soon as possible.

There Is Serious Fear or Malice in the Community or Among Its Members

Sometimes, a serious sense of fear amongst renters may be the cause. This could be because the neighborhood is or has become extremely violent. It could also be because of grievances amongst neighbors to the point where a tenant either feels unsafe or simply cannot handle the stress any longer. This poses a serious problem for landlords as well as an unsafe or rowdy neighborhood can prevent the unit from being filled and prolong vacancy. Being aware of the top reasons why tenants may break their lease can help you improve your property and better understand the lives of your tenants. If you’re struggling to maintain your property, and you’ve found that tenants are starting to leave because of it, Excalibur Homes has rental property management in Marrieta, Georgia. We can help you maintain your property and keep your tenants from breaking their leases.