I bought a house downtown that was rented with seven separate (and different) leases. Four or five of these tenants wanted out of their leases that ran through the summer. One tenant had a lease that ran until September and was totally pissed that I wasn't going to renew it.

As soon as I gave them my contact information, I started getting visits asking me if I could cancel their lease. I told them "I'd love to get into the building and starting doing construction, but that wouldn't be fair to anybody living there."

I have no idea how they sorted it all out, but one month later they all showed up on a Sunday morning and I handed back their security deposits and we canceled all seven leases.

I had two bounced rent checks for that month. Being a landlord isn't much fun either.