What Happens When You Owe Back-Rent and Your Lease Is Up?

When your lease is up, you may be ready to tie up any loose ends and move on. However, if you owe back rent when your lease expires, moving on may not be as simple as you think. When you owe your landlord rent, he has several steps that he can take to recover any money owed, including pursuing you legally for the rent you owe him.

Payment Plan

    Depending on how much you owe in back rent and what your payment history was like throughout the terms of your lease, your landlord may be willing to set you up with a payment plan to pay off what is owed, even as he prepares to re-rent the place to another tenant. However, you may be required to sign a copy of the written payment plan, so that if you default, your landlord can pursue other avenues to get what is owed.

Security Deposit

    In most instances, if you owe back rent and your lease is up, your landlord will use your security deposit to collect the monies owed. However, if the amount owed is more than your deposit, he still may pursue ways to get the rest of what is owed to him. If the amount owed is less than the amount of the deposit, then depending on any damage done to your home, you may or may not get money back from your deposit.

Legal Judgement

    If your security deposit isn't enough to cover the back rent owed to your landlord, he may file suit against you in small claims court, with hopes that a judge can get you to pay up. You can obviously fight this (though you may need access to legal resources to help you do so), but in the end, if your landlord wins a judgment against you, you would be liable to him for the amount owed in back rent as well as any legal fees associated with filing suit against you.

Additional Considerations

    If your landlord wins a judgment against you, it goes on your credit report and you may find it challenging to rent another home or apartment. If you plan to try to re-rent your place, perhaps offer to your landlord to tack on additional money to your rent for the first several months until you catch up on the unpaid amount of the last lease. If he agrees, try not to fall behind on the new lease.



  • What Happens When You Total a Leased Car? eHow

    www.ehow.com Cars Car Loans & Financing Auto Leasing

    What Happens When You Total a Leased Car?. Totaling a leased car is never pleasant. The leasing company wants its money back. Insurance companies are trying to pay


  • What happens if I don't pay my rent after I already have a new ...

    au.answers.yahoo.com/question/index?qid=20070701193735AA3QIsWLast updated: Jul 02, 2007 13 posts First post: Jul 02, 2007

    Jul 02, 2007 Best Answer: the apartments will evict you then once that happens they will take you to court for the remaining balance of your lease then they will charge ...


  • What to Expect if You Have a Broken Lease With an Apartment

    ezinearticles.com Real Estate Leasing Renting

    Dec 17, 2006 I have a broken lease! The vast majority of apartments will not work with you if you owe another rental property money or break a rental lease.


  • What to Do When You Can't Afford to Pay the Child Support You Owe

    singleparents.about.com/b/2006/11/16/what-to-do-when-you-cant...

    Nov 16, 2006 This week, I received an E-mail from a concerned mom who is unable to pay the child support she owes. Here's what she had to say: I am a parent who pays

  • What happens if I can't pay my rent? - Yahoo! Answers

    answers.yahoo.com/question/index?qid=20090602051759AAzcqDgLast updated: Jun 02, 2009 4 posts First post: Jun 02, 2009

    Jun 02, 2009 Best Answer: If you signed a lease then you are obligated to fulfill its terms for the full length of the lease and would owe the rent whether you lived ...

  • What Happens If You Abandon Your Home and Let It Foreclose?

    bethparker.hubpages.com Explore Home Real Estate

    So what happens if you abandon your home and let it foreclose? This article will help you understand what the consequences will be if your home ends up being foreclosed.

  • HM Revenue & Customs: What could happen if you don't pay HMRC

    www.hmrc.gov.uk/payinghmrc/problems/dontpay/debts.htm

    Formal procedures HMRC will follow if you can't reach agreement on paying what you owe

  • What happens if I sell my house for less than I owe on my ...

    answers.yahoo.com/question/index?qid=20070929203216AABZ4gULast updated: Oct 03, 2007 10 posts First post: Sep 30, 2007

    Sep 30, 2007 Best Answer: I think you will need to pay off the $10,000. Not a good idea to roll it into the next mortgage, even if your bank or mortgage lender will let ...

  • What if You Owe More Than Your Car is Worth Car Buying

    www.superpages.com SuperTips Auto Dealers and Car Buying

    If you owe more than your car is worth, there are ways to remedy that situation, also known as being

  • What Happens When My Car Lease Is Up? eHow

    www.ehow.com Personal Finance Money Managing Car Loans

    What Happens When My Car Lease Is Up?. Leasing a car is a way that you can get the car you really want at a payment you can afford. After the lease is up, you have to ...

  • Chapter 7 Bankruptcy - What Happens When You File For

    www.creditinfocenter.com/bankruptcy/chapter7BK.shtml

    Chapter 7 BK - How to File For Bankruptcy, Answers to Questions About Chapter 7 Bankruptcy. Chapter 7 Bankruptcy Frequently Asked Questions. Last Updated: April

  • What Happens If I Die Without a Will? LegalZoom

    www.legalzoom.com Estate Planning Basics

    Learn about what happens if you die without a will. From LegalZoom.

  • What Happens To Your Car Payments If You Die?

    autos.aol.com Articles

    Nov 05, 2009 Are descendants obligated to make car payments on leases and loans for cars they dont own and havent signed any contracts for?

  • Can't Pay Rent - 4 Tips on What You Should Do Now

    ezinearticles.com Finance Debt Relief

    Oct 22, 2008 We all have lots of bills to pay, but if you have to pay rent that is probably the most important. Even if you are just a couple weeks late on rent, there ...

  • WHAT HAPPENS NOW: Home Fire

    www.whathappensnow.com/getHelp.cfm?cat=2&sub=2

    When the Fire is Out. Be safe, be smart. Depending on the damage, the fire department may allow you to take your personal belongings (clothing, - jewelry, important ...

  • What happens if my car gets repossessed Auto Credit Express

    www.autocreditexpress.com/blog/2008/01/21/what-happens-if-my-car...

    At Auto Credit Express, we get a lot of questions from customers asking if a repossession will affect their ability to buy another car. But first, you have to

  • What Happens When An Oil Well Is Drilled On Your Land

    energyindustryphotos.com/what_will_happen_to_your_land_wh.htm

    What will happen to your property when an oil company drills a well on it? Much of it depends on what you do before drilling begins and what kind of surface rights ...

  • What happens if house I'm renting is condemned?

    forum.freeadvice.com Landlord / Tenant Issues

    What is the name of your state (only U.S. law)? Florida I will attempt to make this as brief as possible. We are a family of four, including 2

  • How to Stop Foreclosure - Learn How to Avoid Foreclosure

    www.how-to-avoidforeclosure.info

    Do you know Obama's plan to help families to avoid foreclosure is not helping, and will not help over 90% of homeowners facing foreclosure? Do you know therere ...

  • What happens if you are facing both bankruptcy and repossession

    wiki.answers.com Debt Collection Repossession

    Well, "repo man", a bankruptcy will allow folks to get their car back - even after repo. The clincher is, if the car was auctioned or not. That would be the only ...

  • WHAT YOU NEED TO KNOW ABOUT SECURITY - Legal Aid

    www.lafla.org/pdf/hou_secdep_eng.pdf PDF file

    securitywhat you need to know about deposits legal aid foundation of los angeles

  • Is It OK To Stop Paying Your Underwater Mortgage And Walk Away?

    www.smartonmoney.com/if-your-house-is-worth-less-than-you-owe-is...

    A lot of people are finding themselves in a situation where they owe more on their home than it is worth, they have negative equity. Because they dont want to take ...

  • Frequently Asked Questions of the Housing Court Department

    www.mass.gov Home Courts Trial Court Departments

    This is the website of the Massachusetts Court System. This site provides information and resources for members of the public and for attorneys.

  • If you want to 'break' your lease Metropolitan Council on Housing

    metcouncilonhousing.org/.../if_you_want_to_break_your_lease

    Main menu

You're reading an article about What Happens When You Owe Back-Rent and Your Lease Is Up? and you can find articles What Happens When You Owe Back-Rent and Your Lease Is Up? this is url https://rentingahomes.blogspot.com/2013/10/what-happens-when-you-owe-back-rent-and.html,you may spread or copy and paste it if the article What Happens When You Owe Back-Rent and Your Lease Is Up? This is very beneficial to your friends, but do not forget to put the link What Happens When You Owe Back-Rent and Your Lease Is Up? as the source.

0 komentar

Posting Komentar