With the cost of housing and commercial property rentals rising across the state, things don’t always go as planned and tenants or borrowers occasionally move out of a property without notice. This is known as lease abandonment, which happens to be the topic of discussion for this post. Today, we’ll go over what lease abandonment entails and touch upon the potential consequences that could arise from a tenant abandoning a lease.
As always, we at the DiJulio Law Group want to remind you that, if you’re looking for specific legal advice that is tailored to your particular needs, we invite you to reach out to us directly. For now, here is a brief overview of lease abandonment in CA.
What Exactly is Lease Abandonment?
Lease abandonment describes a situation where a tenant of residential or commercial property decides to abandon his/her obligation to the lease by walking away. More specifically, the following have to be true in order for a tenant to have engaged in lease abandonment:
- The tenant intents to leave the property permanently and for good
- The tenant must engage in an external act that demonstrates his/her intention to abandon the property
What are the Consequences of Lease Abandonment?
Landlords who are dealing with lease abandonment generally have two options at their disposal: they can choose to accept the abandonment of the property on part of the tenant, or they can ignore it and proceed with the lease that was previously agreed-upon. The first option opens up a whole can of worms for the tenant, including additional fees tacked on to mitigate option. The second option however ensures that the tenant continues to be liable for all payments during the remainder of the lease.
Depending on the circumstances at hand, either option has its pros and cons. At this stage, it makes sense for landlords to take time and suss out the options with a legal expert, someone who can help them assess what the best course of action is given the circumstances at hand.
This wraps up our overview of lease abandonment in CA. If you want to learn more about this topic or any other matter relating to real estate law, remember that we at the DiJulio Law Group can be reached at via a quick phone call. Call us at (818) 502-1700 to schedule a free initial consultation.