QUESTION

is there a grace period for turning in keys at the end of a rental

Asked on Jun 29th, 2015 on Real Estate - California
More details to this question:
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1 ANSWER

Real Estate Attorney serving Oakland, CA at Sack Rosendin LLP
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No. As long as you have the keys, you are in possession of the rented space. The owner cannot rent it to anyone else, because there is nothing to prevent you from letting yourself it. Returning the keys is how you demonstrate that you are returning possession of the rented space to the owner. That means that until you return the keys, you owe rent. Many leases provide for a higher holdover rent after the term expires. If you deliver notice to the landlord that you have vacated and surrendered the space, but don't give him the keys, then he is going to have to change the locks and deduct that expense from your deposit or bill you for it. If you don't pay, he might not bother to sue you, but he might report the unpaid bill to the credit reporting agencies. In addition to the impact on your credit score and ability to borrow, some landlords won't rent to someone who has a bad credit report, and even some employers are influenced by credit reports. If you appreciate this free advice, please remember to refer me to any friends or acquaintances who need a lawyer. Referrals are still our best source of new business. Do you have a revocable living trust to protect your heirs against probate? Probate takes forever, is expensive, and is annoying. Do your family a favor. Set up a trust, and put all your property, especially any real property, into the trust. Since it is revocable, you can change it, add to it, take property out of it, or even cancel it completely, at any time. We set up such trusts, provide a pour-over will as a back-up for any property that does not make it into the trust, provide you with blank durable powers of attorney for health care and financial decisions, in case you become incapable of making such decisions while still alive, and convey one piece of real property to the trust, usually the family home, for $1500.00. If you would like to hire me to do this, let me know, and I'll send you a list of the information I need. Dana Sack
Answered on Jun 30th, 2015 at 12:29 PM

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