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Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 53698
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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Hello, I have a landlord related question. I have a tenant

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I have a landlord related question. I have a tenant that recently moved into a condo I own (in Maryland) and they are finding that they are struggling to make the monthly payments since their income situation has changed. So far, they have been 15 days late on their payments two months in a row. They have a year long contract with me and I believe they are afraid to break that. I would like to let them know that if they would like to break the contract and move out, that I would be willing to agree to that and not seek recourse. Would I be opening myself up to any legal issues by telling them this? What would be the best way to state this?

Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good afternoon. They are currently in default and thus you could terminate the contract with recourse. You can contact them and let them know you know they are struggling and are willing to discuss a resolution to their situation, including a possible termination of their lease without recourse but that they should be aware that until you come to a resolution upon which you both agree, any settlement offers that get put on the table from either side are not binding on either party. That will allow you to discuss this situation without giving up any of your rights under your current lease.

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