If we terminate our rental lease early....?

Question

we'll probably have to pay the full term of the lease?

What happens if you can't afford to make double rent payments? Will landlords work out payment plans?

I was relieved to see our lease didn't state anything about early termination. I thought that meant we could. I was concerned about losing our security deposit, but I had no idea they could make us pay for the remainder of the term. Is that really true? I felt nervous before, but now I'm thinking we should cancel the plans to buy the house. We really can't afford to pay two payments and I don't want to jeopordize the house or our credit.

Is it really like that? Them making us pay through the end of the lease? I realize a rental agreement is a contract, I guess I didn't realize how serious this was.

Answer 1

Yes, this is a legal binding contract. The assumption is that you WILL honor the terms of the agreement, and since there is no language in your lease providing an early termination, you are expected to pay the rent until the lease expires.

You should immediately speak with your landlord to see if he will work out a payment plan with you concerning the balance of the lease rents due. If he refuses, you are expected to have the check there on the due date for rent.

I answer questions of this nature regularly in this forum, and I am simply amazed at how many people do not realize they have entered into a contract which expects such performance.

Answer 2

I would contact an attorney in your state, bring a copy of the lease. You may be have a local renters/landlord tenant rights type non profit organization in your area that will review it at no charge. I would check the phone book or do an onlline search. But it's worth having the contract reviewed. There are also laws in each state governing what they can charge you legally. So you might want to contact your state's housing office as well.

You may want to contact your landlord about what penalities he expects to charge etc. Some landlords will take payment plans, but first I would find out what you legally are obligated to. If he can rent the house out he can't charge you for the months the new tenant takes over. That would be recieving double payments and is fraud. But keep in mind he may not be motivated to actively try to rent the apartment if he knows you will pay through the end of the lease.

If you have already signed a contract to buy the house and it has been accepted that can put you in jepordy as well, you could lose your earnest money deposit, etc. I would proceed carefully and consult someone in regards to your specific laws of your state after reviewing your rental contract.


EDIT: After reading one of your other questions it sounds like this landlord has not been completely legal in his dealings with maintence and pest control issues. This gives you some rights under the housing laws. Contact a tenant rights group on how to proceed. The government website for Georgia is http://consumer.georgia.gov/00/article/0,2086,5426814_5684686_39004304,00.html

Answer 3

Unfortunately you have a contract and the contract is worth so many dollars (monthly payment X the number of payments agreed to)
Think of it this way if the landlord used your contract as collateral because of it's value with say a bank when they borrowed some money now the landlord would be stuck and would have no recourse except to sue.
However that is the worst scenario. What you need to do is get a legal beagle to help you given what you wrote in a previous posting were your circumstances. Be sure to read your landlord tenant act at the link I gave you at that posting.
Best to be protected than scared
Best of luck to you

Answer 4

Typically, you can only be charged for the time it takes to find someone new to lease the please, which shouldn't be more than a month or two. Also, if you do have rats, roaches, issues with things not being fixed or repaired, you have to have documentation that you attempted to have your leaseholder repair these things...written documentation. And then you have to have your rent put into escrow until they fix it or repair it yourself and put the rent money into escrow until you're compensated. You can't just move out..no state will accept that as a defense and you'l have to pay quite a bit of money.

Your lease sounds like a piece of crap...usually reletting fees let you out of your contract without further penalties. You probably will not get your deposit back. Ask to pay for two months rent and be let out of the contract and if the leaseholder agrees, put it in writing and have your leaseholder sign it and you should be legally fine without your credit being ruined.

Answer 5

Since your other question showed this landlord didn't make repairs in good faith and the apartment wasn't fit to live in if you have rats, etc. You may be able to legally get out of your lease. I would contact your local state housing office and let them know the problems you had and see what rights you have.

Answer 6

unfortunately, your agreement is binding... so you really have to think about your decision clearly... if say you are expats and relocating back to your home country, perhaps you can convince your landlords to work out a deal... otherwise, you really have to pay the full term lease...

i know it sucks, i was in that situation before but turned out well...