I am in a bad financial situation and might not be able to pay rent in a few months. I can't move anywhere cheaper, as there isnl't any place cheaper. I have not had a lease in almost a year and liked the idea that I was somewhat free. My manager put a note on my door to renew my lease tomorrow. If not , my rent goes up 50 dollars a month and I will just be out on the street earlier. They are offereing me a one year lease for 10 dollars more than my current rent. The 10 dollars doesn;t make that much difference but I want a 6 month lease as I know I will probably end up breaking a 1 year lease due to financiall problems and I also want to be free to move if I have the opportunity. If I want a 6 month lease I have to pay the extra 50 dollars month (I can't afford this, nothing to cut out of my budget). I have to sign the lease tomorrow and will be trapped for a year. Is there any way that I can get out of it 6 months down the line if I can't pay the rent anymore?
2007-02-11 06:31:20 · 7 answers · asked by reallyfedup 5 in Business & Finance ➔ Renting & Real Estate
I expressed my concern about signing such a long lease. You never know what is going to happen in a years time.
2007-02-11 06:32:01 · update #1
Breaking a lease will show up in your Lease Report. There are companies that sell tenant histories just like there are ones that sell credit histories. And any new landlord may ask you for your old landlord's reference.
I'd sign the 1-year lease since it's the most affordable and it delays the evil day when you might not be able to pay rent. As you say, you don't know what the future will bring but there is always the chance it will bring a higher salary. Besides, what landlords care most about is the rent. If you know you are going to have to break a lease because you can't afford it the best way to handle it is to tell the landlord as far in advance as possible and offer to stay and pay the rent until he can find a new tenant to replace you. If you then move out without owing any rent, you will get a more favorable report from the landlord than you would otherwise. It would show your good faith rather than the attempt to just ignore and run away from the debt.
Honey, you really need to get out of your rut and find a job that pays more. You found the one you have and adjusted to it. Now you need to take another step and move on. You've got to find a job that pays you a living wage.
2007-02-12 01:15:58 · answer #1 · answered by AnOrdinaryGuy 5 · 0⤊ 0⤋
If you think you'll leave after 6 months, sign a six month lease, its not worth the bad repututation and history and the risk of being sued. Plus do you not have a security deposit that will be lost and probably outweigh the 6 months at 40 more. If the 10 dollar raise is no prob. you can't have all that hard of a time trying to earn $40 more in a whole month. Its not so much that you can't, you just won't. In a situation like that I'd either get a second job or babysit orsomething, a few hours a whole month would pay that, babysit one night and your set. Sell old stuff on ebay, ask neighors if you can wash their cars or something. But at least as the landlord if he can meet you half way, tell him for a 6 month lease you can afford a $30 increase instead of $10 for a year long or $50 for a 6 month.
2007-02-11 07:13:48 · answer #2 · answered by Jeff T 2 · 0⤊ 0⤋
I"m not sure of your situation entirely, But If I were you, I would probably sign the year lease for ten dollars more a month. Because if you think about it, as you said, there are no other apartments as cheap as that one, so if you do sign a six month, or if you go month-to-month, where are you going to move that is cheaper?? that you can afford? I mean be realistic, if you can't live there, and you don't even need a security deposit, Where are you going to find the security deposit and all that? You wo't have a dime to your name, is living on the street an option for you? B/c if it is, I would just stay at the apartment till they evict u which takes a lot of time. If you do break the six month lease, your going to lose your security deposit and possibly be sued, depending on the Landlord. Then where are you going to move w/ no money, and no security deposit? I would just stay at the place, and if you are in a financial bind in a few months, try to talk to your manager and work something out. You like the idea of being free, but where do you plan on moving in six months if you can't afford "The cheapest place around?"
2007-02-11 06:55:57 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Breaking a lease will not show up on your credit report. However, if you do end up moving, you will be asked if you have leased before and give that information as a reference. It would depend on yhe policies of your new place whether or not they would lease to you.
2007-02-11 06:37:02 · answer #4 · answered by annazzz1966 6 · 0⤊ 0⤋
DONT YOU EVER WATCH THE DAYTIME COURT SHOWS? THEY WILL SUE YOU FOR THE REST OF THE MONTHS THAT YOU SKIPPED OUT ON. THE BEST THING YOU CAN DO IS MOVE OUT AND FIND SOMEWHERE THAT WILL GIVE YOU A 6 MONTH LEASE LIKE YOU ARE LOOKING FOR. GOOD LUCK GIRL, I KNOW THE FEELING BEING A SINGLE MOM AND STUDENT AND SOLE PROVIDER. SERIOUSLY GOOD LUCK
2007-02-11 06:41:15 · answer #5 · answered by MARY M 3 · 0⤊ 0⤋
No, it is not on your credit. If the recent landlord calls your previous landlord, you have gotten some subjects. I advise you detect a qualifying tennant on your contemporary landlord and then ask to interrupt the hire. Regards...
2016-09-28 23:24:39 · answer #6 · answered by ? 4 · 0⤊ 0⤋
Have you considered requesting a raise? Even a small one seems as if it'd be enough to help out in your situation.
If not, then you need to find another job. (I mean one to replace your current one, not a 2nd one)
2007-02-11 06:48:20 · answer #7 · answered by kb 2 · 0⤊ 0⤋