I have already signed a renewal lease that begins in August. I have just found out that I will not be able to live where I am next year. I just wanted to know how much cancellation fees run because the office won't tell me until I come in and I am not in town. I will finish the current lease which does finish at the end of July. I pay roughly $1250 and my deposit is aruond $200 if that helps
2007-05-02 12:30:40 · 4 answers · asked by Yazzle Dazzle 2 in Business & Finance ➔ Renting & Real Estate
It will depend on your state and what they, the people you are renting from, want to charge you. It is my understanding if you move more than 50 miles away, they can not hold you to that though. You will probably have to check the laws in your state.
good luck!
2007-05-02 12:38:39 · answer #1 · answered by Kali's Mom 5 · 0⤊ 0⤋
You won't find out until the office tells you - no one here on Answers can know what the contract that you signed with them is - but if you have a copy of your lease, it may state what the cancellation fees are. They can be as high as the total amount of rent that you owe, to the rent until they can re-lease the property, to 3 months rent, to 1 months rent, to nothing.
2007-05-02 19:41:30 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It depends on your lease. It can run anywhere from zero up to the full amount of the lease payments for the term of the lease, depending on what the lease says, and state and local laws. You'll be able to give them plenty of notice, so that should help.
Losing your deposit, and a month's rent would not be uncommon, but it could be more or less than that.
2007-05-02 19:43:46 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
Since you are letting them know so FAR in advance, the cancellation fee should not be much.
2007-05-02 19:39:15 · answer #4 · answered by marisanj 5 · 0⤊ 0⤋