I signed a 1 year apartment lease june 07, My wife found a great deal on a new construction home,and plan on closing October 26th 07. With all the down payment,closing costs, I don't have the money to buy out my lease and was wondering if a payment plan with apartment management is an alternitive,I have not spoken with apartment yet. What are my options? I have seen previous answers regarding this same question,but did not get a clear answer, I hope I don't sound stupid . please help
2007-10-05 22:20:42 · 5 answers · asked by Texas 3 in Business & Finance ➔ Renting & Real Estate
1) Get a sublet. Have someone lease your apartment from you. One of my roommates is doing that now. Have them pay what you are paying, or pay like $20 a month for them so they are more likely to rent for you.
If you can't get someone to sub lease, then you can break the contract, but it will go on your rental record (like a driving record) and it will be harder for you to be liable for other apartments.
2007-10-05 22:27:46 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You may be liable for the entire lease at current rates ie your monthly rent payment. Many leases have a buyout option. You need to read your lease. If youare expecting the leasing company to give you say 3 years to pay off the remamining lease. It aint gonna happen.
2007-10-06 07:21:17 · answer #2 · answered by Bob D 6 · 1⤊ 0⤋
well - now would be a good time to READ your lease
it should have provisions to tell you how to get OUT of it
may be only have to give 30 days notice -
or you may be stuck!
best of luck
2007-10-06 05:29:13 · answer #3 · answered by tom4bucs 7 · 0⤊ 1⤋
Get a dog
2007-10-06 05:24:09 · answer #4 · answered by Anonymous · 0⤊ 2⤋
OH DAMM, you have responsibilites???
2007-10-06 05:24:47 · answer #5 · answered by Anonymous · 0⤊ 2⤋