It's not specified anywhere in the lease, but the landlord claims he will charge me 2 months fee for early termination (default) - 1 for future month and 1 for security deposit.
Any help would be greatly appreciated.
Thanks
Moris
2007-07-26 07:19:16 · 4 answers · asked by coolmoris 1 in Business & Finance ➔ Renting & Real Estate
although i am not sure of the laws in NY i live in illinois and as long as you give a 30 day notice you may terminate the lease even if the lease is not a month to month lease and all you will lose is your security deposit that you paid on move in.
2007-07-26 07:27:51 · answer #1 · answered by Godspunk 2 · 0⤊ 1⤋
You're lucky that he's only charging you for the two months. Since you've defaulted on your contract, he could very well get you for the whole term of the lease (whatever many months you had left).
2007-07-26 07:33:16 · answer #2 · answered by Toby G 2 · 1⤊ 0⤋
Consider yourself fortunate that all he is charging you is two months. Absent any provision in the lease, he can hold you liable for the full term of the lease if he is unable to re-rent the unit, or for the cost of the vacant time period, plus any expenses incurred in re-renting and preparing for another occupancy.
2007-07-26 07:25:52 · answer #3 · answered by acermill 7 · 2⤊ 0⤋
yes - there could be
many leases have "out clauses" or "termination fees".
they are normally structured so as to deter early outs on leases.
good luck
2007-07-26 07:38:00 · answer #4 · answered by Blue October 6 · 0⤊ 0⤋