We have a lease that expires May 31, 2008. Due to financial situations, we are considering breaking it. We have a $375 dollar concession each month which the lease states we have to pay back if we break our lease, plus 60 days notice, meaning 2 more months or rent. Our consession total is $2625.00 as of today. So to break it today, we would have to pay $4575.00. Are there any ways around this? Are there any legal reasons that you can break a lease?
2007-12-31 05:29:03 · 9 answers · asked by yesma'am 3 in Business & Finance ➔ Careers & Employment ➔ Law & Legal
i do have a stipulation stating I can break it if we purchase a home, but that's a little ways off.
2007-12-31 05:49:37 · update #1
I'd ask an attorney. Some places will allow you to just allow them to keep the deposit if you give the notice that's required. And, if you leave and haven't paid in full that will keep you from getting another apartment, so you'll need an attorney anyway. You could, of course move in with relatives for a while (maybe a year) and that would help solve the problem of finances and of getting another apartment in the future. If the lease thing doesn't work itself out then maybe your attorney could solve that for you. It never hurts to ask.
2008-01-01 10:19:49 · answer #1 · answered by sophieb 7 · 0⤊ 0⤋
Apartment Lease Loopholes
2017-01-11 03:35:45 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Doubtful you can break the lease without paying. If the lease contains any clauses that are not legal in your state, you might have an opening, but then you revert to whatever the state norm is. Remember why you have a lease to begin with. If it was easy to get out of, why couldn't the landlord throw you out without compensation? The lease is to protect both of you. I would suggest you talk to the landlord and see if something can be worked out. He probably doesn't want to take you to court, but he will. I am a landlord and have had tenants with issues that came to me and we worked things out because they had been good tenants. I had one that broke the lease like you are describing and I sued him and not only won the damages, but punititve as well.
2007-12-31 10:54:58 · answer #3 · answered by Fred 2 · 1⤊ 0⤋
Purchasing a home in this buyers market is easier than you think. If the down pmt is holding you back ask for a nehemiah assistance package. It is a free 3% down package and will get you in easy , You need a good RealEstate Agent. I amin Atlanta, Ga
2007-12-31 07:39:58 · answer #4 · answered by D B 1 · 1⤊ 0⤋
Break it- but be prepared to pay what you owe. Thats why its there.
2007-12-31 05:45:35 · answer #5 · answered by Do I need a mint? 4 · 0⤊ 1⤋
Sorry, but there are no loopholes when it comes to a lease with conditions that you agreed to and signed. If you just move out, you may have to pay the $4575 + legal and court costs of your landlord, and you'll lose your security deposit.
Best bet is to speak with the landlord. Usually if they can find someone else to rent it, you'll be OK.
Running away is not a good option.
2007-12-31 05:40:35 · answer #6 · answered by edco 5 · 1⤊ 0⤋
The lease is a binding contract and the contract stipulates the condition under which you can break it, as you described. There may be other conditions that you do not mention, but it is unlikely.
Does the lease permit you to sublet? If so, you may be able to find a tenant to take your place for the next five months.
You can also talk to the landlord, state your problem, and ask if you can help to break the lease without a high cost if you find another tenant to take over.
Finally, you have an attorney look into the matter and advise you.
2007-12-31 05:39:05 · answer #7 · answered by Anonymous · 1⤊ 0⤋
How you got into a lease like this is beyond me.
I guess some of the reasons would be if there is too much noise going on or repairs that you request to be done are ignored. Other than that, there isn't much hope.
2007-12-31 05:37:04 · answer #8 · answered by Big Bear 7 · 0⤊ 1⤋
1. Buying a home
2. Moving out of state (or too far to commute to a new job)
These are two that I can think of. I had an employer years ago send my landlord a letter stating that I was being transferred so I could get out of my lease.
Of course, laws may vary from state to state, and leases contain different options, so read it well.
2007-12-31 05:35:48 · answer #9 · answered by tombollocks 6 · 1⤊ 0⤋