What can we do if our management company never had our tenants sign a new lease after their original one expired?
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What can we do if our management company never had our tenants sign a new lease after their original one expired?
The tenants are now leaving 9 months before when we thought they would (had they signed the new lease) leaving us out about $14,000. What are our options regarding the management company and/or the tenants?
Asked on January 9, 2016 under Real Estate Law, Louisiana
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
If there was no in-force written lease, the tenants were month to month tenants under an oral lease; that means they could leave at any time on one month's/30 days' notice, and would not be obligaged beyond the notice period (30 days).
If the management company was supposed to re-sign the tenants but failed to do so, you may be able to sue them for the lost profit, based on breach of contract (if they violated their contractual obligations) and/or professional negligence.
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