Rental advice

User Forum Topic
Submitted by beachlover on July 25, 2008 - 7:36pm

Question for the Pigg's re: rental properties. My friend found a property he liked. After seeing it and verbally agreeing to a yearly lease, with an option to renew, the property realtor sent him a lease agreement. He signs the agreement, provides a credit report, and gives a check for deposit. The property realtor says everything is great, credit report checks out and he cashes the deposit check to his account.

Two weeks later the realtor calls to say that the owners have changed their minds and will only rent the property for 9 months so they can rent it as a summer rental next year.

What, if any recourse does my friend have? Obviously he doesn't want to only rent for 9 months, he's looking for a year long lease and might want another year down the road.

Thoughts from the experts???

‹ CA housing recovery nearly here? No closing costs? ›
He could fight it but who
Submitted by temeculaguy on July 25, 2008 - 7:47pm.

He could fight it but who cares, life is too short to have people in your life like this. This probably isn't the first jerky thing they have done and wont be the last. He should get his money back and look elsewhere and especially not deal with that agent even on another property.

Probably a breach of contract
Submitted by Raybyrnes on July 25, 2008 - 7:52pm.

Probably a breach of contract in your friends favor but I would't go down that path. I would ask that they Poney up 1 month of rent becaue he might have lost an opportunity at some other place. When they consider paying that month realative to summer earnings they will probably come back and simply say leave things as they are and your frind will have his place without people being bitter at each otehr.

A contract is a contract is a
Submitted by EconProf on July 25, 2008 - 8:58pm.

A contract is a contract is a contract.
Your friend has to ask himself how valuable this lease & option is. If it is especially desirable, esp. if the option to renew is at the same rent, then he can demand performance. We shouldn't have a lot of sympathy for property owners who suddenly want to alter an agreement.