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i have 8 months to go. want to cut short w/o messing up my credit

2006-08-18 06:01:01 · 8 answers · asked by Anonymous in Business & Finance Personal Finance

8 answers

I wrote this answer for someone else, but I think it will be useful to you:

First, you must check your lease. Some leases give you a chance to get out by giving a certain number of days notice. If your lease does not have such provision, talk with your landlord. He/she may be willing to let you out, but will likely want you to pay some penalty. You can always negotiate.

Under the law, if you break your lease, and your landlord sues you, he/she may be allowed to recover the following:

1) the cost of re-renting the property (i.e. advertising costs);
2) rent for the number of days the property remains vacant; and
3) the difference in the rent (i.e. if you are paying 1000 for 12 months, and they find a tenant who will pay 950 for 12 months, you will owe them 50 per month for the remainder of your lease).

However, realize that most landlord do not want to go to court and a court judgment does not guarantee that the landlord will get paid. As a landlord myself, I've had tenants who don't pay (worst case), I've also had tenants who just move out during their lease w/o letting me know. Both cases result with my going to court against the tenants and are unpleasant for everyone involved. Any reasonable landlord want to avoid both of these situations. So, if your landlord is reasonable, he/she should be willing to come to an agreement with you.

2006-08-18 06:58:54 · answer #1 · answered by mr_law_jersey 3 · 0 0

Talk to your landlord and explain your situation to them. Ask what penalties there are for breaking your lease. If you give them time to find a new tenant, it may not reflect too badly for you. Most landlords just want their places occupied so they have that money coming every month. If you can afford the penalties, then work out an agreement with them and GET IT IN WRITING!!!!!

2006-08-18 17:04:39 · answer #2 · answered by TxCatLuvr 3 · 0 0

It's usually spelled out somewhere in the Lease Agreement. You got to follow that.

2006-08-18 13:08:24 · answer #3 · answered by chief8166 2 · 0 0

Pick up the phone and work out a deal. Say, look, something came up that is BEYOND my control and I have to break the lease, sorry.
What can we do to work this out? See what they say and then counter.
If the people are not flexible then threaten to report them to the health department and cook up some stuff, if you wan't to play hardball. That depends on you.

2006-08-18 13:09:01 · answer #4 · answered by TG Special 5 · 0 0

you will just have to pay them a fine for breaking the lease...it wont mess up your credit just let them know whats going on

2006-08-18 13:06:47 · answer #5 · answered by Anonymous · 0 0

Sub-let the property. Many municipalities require your landlord to let you sub-let. You'll still be responsible but it should be much better than simply walking away.

2006-08-18 13:11:20 · answer #6 · answered by Oh Boy! 5 · 0 0

Read the agreement. It should be in there.

2006-08-18 13:06:21 · answer #7 · answered by Puppy Zwolle 7 · 0 0

write me and ma by lii tell u

2006-08-18 13:06:27 · answer #8 · answered by anthony b 1 · 0 1

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