My condo tenant broke her lease.

[Tobin S.]

Her rent was due today and it hadn't come in the mail. I was already concerned because it looked like someone else had been paying her rent for the past couple of months. I was getting checks that weren't drawn on her account. I was just thinking she was having a hard time covering the rent herself. That was not the case.

She called me a little bit ago and said she was living back with her husband. They were supposed to be in the process of a divorce when she leased my condo. She actually moved back in with him two months ago which was only two months after she signed the lease. She claims that he's in bad health and may actually be dying so she has to take care of him. I'm not buying it, but there's not much I can do short of taking her to court. And for the amount of money we are talking about it's probably not worth it.

I wish I could sell that fucking place.

[PasadenaTrudy]

1. Have you tried

selling it? Or would you lose too much money?

[Tobin S.]

3. Nobody wants to buy it.

[TexasBushwhacker]

6. In Texas you can get older condos dirt cheap

I'd considered buying one until I actually lived in one owned by a roommate. No control over things like roof leaks, toxic mold in the attic, etc. No control over the maintenance fee either. A house may be more expensive, but at least the upkeep is up to me. They're a lot easier too sell too. Sold my first house myself, listed my mother's house and had a buyer in 3 weeks.

[Tobin S.]

9. I have no issues with the association.

They keep the place up well. But I know that a lot of people don't like the idea of having to pay association dues. It was worth it to me when I lived there because I worked a lot of hours on my job and didn't have a lot of time and energy to do the required maintenance on a traditional house. I just needed a place to crash and drink beer, basically. I would think that there are more people out there who have the same type on need.

My place wasn't over-priced. I had it priced lower than a lot of similar condos in the area and well under what I actually owe in it. The last time I had it up for sale I was prepared to take $20,000 for it (no, I'm not missing a zero) but I couldn't drum up a buyer. I know that there are some places in the country where you would pay a similar price for a one year lease on a place like that. But Dayton, Ohio is not L.A. or N.Y.C.

[MineralMan]

2. Why can't you sell it, if you don't mind my asking?

[Tobin S.]

4. I've had it on the market for a total of two years out of the last four.

I just can't find any takers. I'm underwater on it, but I've listed it for well below what I owe on it.

[mackerel]

5. Can a rental agency help you?

[Tobin S.]

10. I've had it listed with a property manager.

It's cheaper and quicker for me to lease it myself. I can find people who want to lease the place, just not buyers.

[CaliforniaPeggy]

7. Oh no my dear Tobin...

I am so sorry to hear this bad news.

I wish you could sell it too.

[Tobin S.]

11. Thanks, Peggy.

[riderinthestorm]

8. I've forgotten where you live but have you thought of listing it as an AirBnB rental?

if you're anywhere near a major city...

Get some furniture from thrift shops. Be sure you have a new mattress set!

And try to market it that way? I have a niece whose travelled the world with house swaps from couch surfers websites. She lives in a real shack but it's in Santa Cruz so she's parlayed that into some sweet vacations in Barcelona, Mauritius etc. Maybe look into that as well? If nothing else it would "buy" you credits to take Jen on vacation in some distant future....

I have no answers.

Good luck

[Tobin S.]

12. I have considered something like that.

The place is located in Dayton, Ohio, which has some size to it. It's also about 40 miles from Cincinnati. Having a place that's kind of like a hotel is a lot more work than leasing it long term, though, and I live 50 miles away from the condo now.

[In_The_Wind]

13. The real estate market still sucks.

Are you overpriced for the neighborhood? Can you lower your asking price to help unload it?

Good luck Tobin!


edit to add - your tenant may be legally on the hook paying rent until you can find a new tenant or her lease expires.