I am supposed to move in a week and went on a apartment ratings site and found that there are a lot of problems at the apts I signed a lease at. My fiance and I want to sign a lease somewhere else. Do I forfeit my security deposit and still have to pay for this apt? We haven't given a first months rent with the security deposit so I wouldnt think the contract is binding yet? Please help!!!
2006-08-26 17:36:22 · 11 answers · asked by Matt 2 in Business & Finance ➔ Renting & Real Estate
At the very least you'll probably lose the security deposit. Without reading the lease I couldn't tell you any more than that. If you actually have signed a lease, the deposit would bind it. Once you sign a lease, you are bound by its terms for the entire term of the lease. So at least in theory you can be held liable for the rent for the full term of the lease. The landlord has a legal duty to make a reasonable effort to find another tenant to minimize your loss but you can be held liable until he gets another suitable tenant.
A well-written lease would address the issue of failing to move in and what the penalty would be. So that's your first step: Read the lease thoroughly.
Checking up on an apartment complex's reputation after signing a lease is kind of like shutting the barn door after the horses have all escaped.
2006-08-26 19:22:00 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Its binding as soon as you signed a lease for a lease is a legally binding contract -chk the print if there is a time limit where you are allowed to bow out of lease but if none then you are stuck. If there a problems with the specific apartment that you signed a lease for then you need to note them and all the problems at the apartment site-then you need to submit them to the landlord in writing-have them notarized and you keep a copy-if you have to send through the mail then certify for a return signature at the post office. The Landlord has to be given opportunity to repair problems---if there is a serious security/safety problem and you weren't told then you might have a valid reason but since the ;lease is a legal contract would advise you to call a lawyer that specializes in contracts/leases and so forth and ask for advice(phone consultation is usually free-if told you have cause then some money may well be Worth it to have legal papers drawn up by attorney---if there is no safety or problem that makes living in the apt and /or complex intolerable then you may have to pay apt until lease expires. Good Luck
2006-08-26 17:46:45 · answer #2 · answered by Anonymous · 0⤊ 0⤋
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2016-07-19 14:50:33 · answer #3 · answered by Violet 3 · 0⤊ 0⤋
You better read the fine print of the lease you signed. Then call the company and tell them that your circumstances have changed and you will not be be able to afford their apartment (red flag for them so they will not want you as a tenant), so you need to know what to do to get out of the lease. Hopefully, you will only lose whatever deposit you paid. In the future, do not sign contracts unless you are sure. Do your homework first.
2006-08-26 17:46:15 · answer #4 · answered by just♪wondering 7 · 0⤊ 0⤋
If you've signed it, it's probably binding. Read the lease for details. That is a contract between you and the apartment owner or manager, and should cover that sort of thing.
If it doesn't provide for a way to get out of the lease, then suck it up, be a man, move in, and be responsible for your actions.
2006-08-26 17:47:50 · answer #5 · answered by Ralfcoder 7 · 0⤊ 0⤋
You will almost certainly have to live up to the lease you signed. If this seems unfair, consider that the landlord (and yes, I am one) took the apartment off the market when you signed the lease, and missed out on other people who might have taken it. Your breaking the lease costs them money, which is why they'll almost certainly hold on to your security deposit.
2006-08-26 18:28:31 · answer #6 · answered by Jim A 2 · 0⤊ 0⤋
The contract is binding as soon as one party gives something up (consideration.) I presume the apartment has been taken off the market. If they have refused the apartment to a potential tenant, then you will have harmed them if you don't take it. You are then liable for that loss.
They are required to attempt to rent the apartment as soon as possible. But... I worked for a management company who felt that as long as someone was paying for the aprtment, they put it at the end of the list of apartments to show.
If there is a reason for you to decine posession of the apartment, then you can get out of it. If someone approches you & makes you feel threatened, then you might have cause. Other wise.... you're stuck. Before entering into any contact, do your homework! It's called due dilegence.
2006-08-26 17:49:33 · answer #7 · answered by Fulltime in my RV (I wish) 3 · 0⤊ 0⤋
before you sign the lease you should have pay for the apt but if you haven't pay for the apt then the person who gave you the lease dn't no wa they are doing or want to get you in something you dn't want to get into so i suggest to go back and discontinue that lease
2006-08-26 17:50:34 · answer #8 · answered by fumeluv 2 · 0⤊ 0⤋
without seeing the details of your rental agreement, i would guess that you wouls at least have to forfeit 1 months rent for inconvenience as the landlord could have had another prospect instead. But if you can find another person to move in instead I believe that is an acceptable alternative for the landlord
2006-08-26 17:42:18 · answer #9 · answered by Wibble 4 · 0⤊ 0⤋
read the lease that you signed, that will tell you.
2006-08-26 17:41:55 · answer #10 · answered by D 4 · 0⤊ 0⤋