I have a renter for past 3 years. She has paid the initial deposit. She was divorced then. After a year, she re-married and I added her husband on the lease. The next lease was done for 2 years and it will end on November 30th, 2015. Beginning of last month, the husband asked me what will be new rent and they were going to decide whether to renew or not based on that. I increased rent by $100 per month to $1625. (since they were enjoying same rent for last 2 years) and current rent is marginally lower than going market rate. ($1650-$1700 max.) Both of them agreed and we signed new lease from 1st Dec. 2015 till 30th Nov. 2016Today, the lady sent me a text saying "If I wanted to take my name off the lease, but leave his name because he is staying, what do I do?" to which I replied "All adults above 18 are on the lease. Your combined income is considered for rental, so both of you are responsible".She makes around $25K and he makes around $45-60K (depending on bonus as he is car salesman).Now she sent another text "Ok, I am not sure what his plans are, but I think he wants to stay and move in his 1 or both od his adult children. I need to remove my name and will let you know when....Will he need to reapply with his kids if he moved them in"My concern:1. Can she unilaterally ask me to take her name off the lease? Am I under obligation to oblige? (Property is in TX).2. She paid original deposit. How do I handle that?3. I am not comfortable if his adult children are moving in. (Not sure how old they are)4. What is he doesn't qualify based on his income alone?I would like the property to be rented continuously, because this time of year may be bad to find tenants & market in slow. I am in a dilemma what I should do. Any advise how to handle this situation is greatly appreciated.Thanks,UB
The questions are 1. Should I terminate the current lease and make a new lease with her husband/his adult children (assuming they qualify)?No. You should qualify the adult children, add them to the existing lease, and call it a day.-------------------------------2. Make amendment to existing lease after I ensure that both of them agree? Sample form is available here. https://www.ezlandlordforms.com/documents/remove-tenant-amendment-50317/Why bother?-------------------------------3. Refuse to remove her name from the lease and hold her responsible to the lease terms? Yes, refuse. It makes no sense to remove/exclude her from the lease.At the most, I can ask her to talk to her lawyer.She can do whatever she wants, it won't change your position.-------------------------------4. Tell her to make necessary agreement with her husband and not get me involved?I have no idea what that would mean, so...?Which option is best for lease continuation and least painful to me? What would you do in a similar situation?★ If you want continuity, don't raise the rents, add kids to lease, renew 24/mo term, and call it a day. Nothing's changed.