I recently qualified for a townhome, I can't wait to move but of course we have a thirty day close. Wich lands on Aug 14th. I currently live in an apartment and I really am not sure what to do. I have to give a thirty day move out notice, but what if this deal falls through? I would love to pay half of the rent instead of the whole month but I don't want to end up homeless?
2006-07-11 13:25:24 · 4 answers · asked by pooh bear 4 in Business & Finance ➔ Renting & Real Estate
Wait until you have firm confirmation that you're going to close. Then give the notice. You'll need some overlap time to move anyway so this will take some pressure off.
Discuss it with your landlord as well. Most of them aren't ogres and will probably work with you. If your LL is an ogre, give him his pound of flesh and just be thankful that you'll never have to deal with one again!
Congrats on your new home! I well remember mine!
2006-07-11 13:30:20 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Depending on your lease and where you live you should only have to provide thirty days notice of terminating your lease (without possible penalties only if you are month-to-month!). Check the terms of your lease! Your landlord may have a form they want you to use but any letter showing your name, address, the date of the letter, the date of move out, and your signature should do.
If you are month-to-month and don't mind paying the extra money, don't give your landlord your thirty day notice until two weeks before closing or right when your escrow closes. That way, you can negotiate staying if the purchase falls out.
Perhaps after you give the landlord your notice in writing, you'll want to call and tell them you're buying a place so that they'll be more understanding if you need to stay. The best thing you can do is be honest and CYA. People deal with this situation all of the time. Congrats on your new home.
2006-07-11 20:38:55 · answer #2 · answered by JohnnyFlyBy 2 · 0⤊ 0⤋
You need to talk to the management of the apartment. Most lease agreement actually spells out the situation where renter buys a house. Usually management are quite understanding of this type of situations.
Don't hand out the notice until you talk to them and understand what will happen.
2006-07-11 20:30:17 · answer #3 · answered by tkquestion 7 · 0⤊ 0⤋
If it were me renting to you, I'd rather take 1/2 month's rent, versus maybe not renting it at all that month. Just ask the landlord.
2006-07-11 20:31:43 · answer #4 · answered by cowgirl 6 · 0⤊ 0⤋