As Orange County landlords, we want some amount of tenant stability; after all, tenant turnover is a cash flow killer. Very rarely do we allow tenants to break a lease without a very good reason, such as these that top the charts.
Active or reserve military
Active and reserve military personnel can be transferred quickly. If they have to go, there is really nothing we can do, as Federal (and often State and local) laws allow these tenants to break leases.
A job transfer is not the tenant’s fault, and it often is a good thing for them. Most of the time, they have little control over it, so there is little reason trying to enforce the lease. Besides, it is unlikely that a judge would allow you to enforce it.
If a tenant loses their job and has no prospects of finding replacement income in the near future, we have found that it is best to generally let them move on. After all, although we may try with all out might we are not going to get blood from a stone. It’s best to sever the relationship early, get your property back and reoccupied.
Unfortunately, bad things happen to good tenants. Tenants get divorced, get diagnosed with cancer or suffer some other type of misfortune. These types of circumstances can cause radical shifts in income and life.
Just a pain in the neck
Some tenants just end up being a pain in the neck. They seemed like a good fit, but once they moved in, nothing is ever right. Nothing is fixed properly, they complain constantly, they are late with the rent or are abusive. Sometimes enough is enough and we need to let them move on.
Although, we have a clearly defined tenant move out process to help ensure that you do not incur any lost rent at any time. I hope this helps shed some insite on how we look at certain situations when managing Orange County rental properties.