Is there a risk of the old tenant not moving out and signing a new lease?
Many homeowners hope that the lease agreement follows the lease agreement, shortens the vacancy period of the property, increases rental income returns, and even signs a new lease agreement with new tenants when existing tenants have not moved out. In fact, both owners and tenants must pay attention to the risks involved in this situation.
In the case where the current tenant has not officially moved out, if the landlord signs a new lease agreement with the new tenant and the old tenant's plan changes and fails to move out on schedule, the landlord cannot forcibly evict the old tenant. This requires legal proceedings, usually taking 2 to 3 months. In addition, homeowners may also need to negotiate with new tenants to change the lease start date, and may even face the risk of breach of contract compensation.
Another noteworthy issue is that new tenants can only view the current status of the property when the old tenant has not moved, and most can only see photos of the unit. They may not be able to carefully observe the condition of the entire property, resulting in a drop in expectations when moving in. According to general circumstances, tenants are required to raise any questions or requirements regarding the condition of the property before signing the lease agreement. Otherwise, the property will be accepted as it is and the owner may not be held responsible.
Although signing a new lease agreement immediately after the old tenant has not moved out can reduce the vacancy time of the property and increase rental income. However, there are still many risks involved, so when signing a lease agreement with a new tenant, the owner should try to explain the relevant risks in detail and make the new tenant agree to bear the possible consequences to avoid disputes in the future.
