My tenants just bought a house. (early February) Their lease doesn't terminate until April 14, and they will pay the rent up until then even though they will most likely have moved out by the beginning of March. The tenant has asked to transfer the utilities over to me when they move out, which is fine with me as long as they are not there using the water, heat, electricity, etc.

I know that I am lucky that they plan on paying the full rent, but, if they are gone early, can I rent the place out to someone else? Do I have to give them a lease termination agreement at that point? If I do that do they still have to pay the rent until the end of the term? They haven't made any moves to break the lease, which I am grateful for, but if I find a good tenant and there is overlap on the two leases is that legal? It doesn't seem like it would be.

I admit I am trying to maximize my profits (which, believe me, are small to begin with) and at the same time find a good new tenant. Since every prospective tenant has unique circumstances about when they can move, I want to be ready to rent at any given time, but I don't want to break the law.

Landlords are generally held to have a duty to mitigate damages by renting the property as quickly as possible. Under that doctrine, you would be remiss in accepting rent from another tenant while the current tenant is still paying. Also, as long as they are still paying rent, they technically retain rights to the property.

I would try to rent out the house ASAP. At this point, they may actually believe they will go through with what they have indicated to you. But the chance that they will actually keep their word is slim. Once they move out and don’t have to deal directly with you, all deals are off. This is not a tenant thing, it’s just the way people are.

P.S. I agree with Marketeer on not trying to double dip.