I just bought a house, am scheduled to move-in at the end of month and still have 3 months left on my lease at my apartment, is there any way to get out of the lease? They told me if I break it, I have to pay a penalty fee and still be responsible of the remaining months left for rent. Any help would be appreciate it thanks!!
2007-03-27 16:44:35 · 4 answers · asked by maui 1 in Business & Finance ➔ Renting & Real Estate
You're probably stuck - until a replacement tenant takes possession - at which point your obligation ends. In my state, the landlord has a duty to mitigate, meaning they should try to re-rent your unit to minimize your liability. You might discuss a flat fee arrangement with them versus ongoing rent liability, or whether you can do some advertising and/or showing of the unit on your own.
Remember though, it isn't the landlord's fault or problem that you decided to buy a house before the lease was up. While they should try to meet you halfway - there is still the possibility you'll have to make some or all of the remaining lease payments - or - get a judgment placed against you. My recommendation is to avoid this damage to your creditworthiness at all costs.
A judgment isn't the end of the world, but it makes other credit more difficult to obtain and renders you virtually ineligible for preferential interest rates and such. Judgments can stay on your credit file for up to 10 years.
2007-03-27 18:19:42 · answer #1 · answered by njc_flhtc 4 · 0⤊ 0⤋
They can't make you pay, all they can do is get a judgement against you.
The answer might depend on what state you're in. For example, in Florida, landlords can't collect rent on the same unit twice. SO, if you leave, and they rent the apartment out again after 1 month, they can't sue you for the remaining two months. That's why they would happy to let you off with only one month.
Any "fees" they charge would have to be disclosed in the original lease, but they probably are.
2007-03-28 00:02:14 · answer #2 · answered by AngelaTC 6 · 0⤊ 0⤋
Negotiation is the way to work. Ask them if they are open at the idea of sublease (you need to find a tenant). If the tenant pays 80% of the rent, for the next 3 month you'll need to pay only 60% of one month lease instead of the whole 3 month of rent.
2007-03-28 00:00:38 · answer #3 · answered by newway 1 · 0⤊ 0⤋
Well if these are the terms of lease then thats what they will charge you. I would try to negotiate if they try to rent the apratment themselves or you get them a new tenant and they let you go out of lease. Sometimes they agree to let you go if you pay them one month rent.
2007-03-27 23:55:22 · answer #4 · answered by WISEMAN 3 · 0⤊ 0⤋