I just found out that my tenant who has only lived there for a month and signed a 12 month contract bounced out of me and moved far away and I have his security deposit and first months rent.
What can I do? Is he required to pay the remaining 11 months out of his contract?
Here is what the contract states:
... Landlord leases to Tenant and Tenant leases from Landlord, upon the terms and conditions contained herein, the dwelling located at _* __ for the period commencing on the _*___ day of __*________,2008_, and thereafter until the __*___ day of _*_________, 2009_, at which time this Lease Agreement shall automatically renew each year unless terminated in writing. The Tenant is required to give the Landlord in writing a notice 1 month (30 days) in advance of his/her moving. Notice must be given on the first day of a month. If notice is given after the first day of the month, the 1 month (30 day) notice will not start until the following month. (The notice must be one full calendar month starting on the first day of a month.) Rent may be increased at any time after the first year and the security deposit can not be used for rent.
...
All parties agree that termination of this Agreement prior to termination date will constitute breach of the tenancy and all Security Deposits and one full month's rent shall be forfeited in favor of Landlord as liquidated damages plus you will be charged the cost of restoring the property to rental condition plus advertising and rent loss incurred until the new resident moves in. Your liability for rent loss is limited to thirty (30) days after restoration is complete.
He also left a TV there.
What can I do here?|||looks like you keep the security deposit and the TV and move on IMHO
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