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Machelle D | We are going to buy a house soon and want out of our apartment lease. 2 months left.? |
We moved in our apartment mid-March. We like it but hate it. I've been looking for houses for almost a year now, just so we would have something after we move out. Well, we found this AMAZING house that we can't pass up. The woman selling the house needs to see it fast and has taken $15,000 off because she recently was married and moved in with her husband. Everything is already in the works, signing contracts, mortgage loans. The only thing is, we need to get out of our lease with our apartment. We have 2 months left and can't stay as we will have an early move in in January when it's signed over to us. Is there anything we can do to get out of it? We don't want to lie.
Additional Details
We signed our portion of the contract. We are waiting on her then getting an inspector. We can cancel the contract but really need a place to go after our lease it up and it's perfect for us and don't want to lose this house. We were thinking of giving notice, and asking if we could just pay 1 month instead of 2 so we could leave. |
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palmtrees
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Typically, if you break a lease early, they charge you until they are able to re-rent the unit *or* until the lease term ends, whichever comes first. Once you move out, they have 30 days to inspect, decide what to do with your deposit, repair things (re-paint walls, clean carpets, etc) so you'll pretty much be stuck paying for a month where it cannot be rented, and then you'll be paying for the time it takes to advertise... or until your lease ends.
What you may be able to do is find someone to rent your apartment, and talk to the leasing office about having them take over the duration of your lease with the option to renew in mid-March.
For the record, your security deposit is not to be used as the last month's rent. Deposits go in an escrow account and the landlord cannot spend that money on anything other than repairs to the unit. If you don't pay that last month's rent and expect the deposit to cover it, you will be taken to court. I don't want you to be misinformed by the other answer.
Another thing to consider: You'll need to give your landlord notice that you will not be renewing the lease, or else it automatically defaults to a month-to-month. Check your lease, typically you need to give 30-90 days. Don't wait to give notice and find out that you're stuck there even longer! |
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EDlbh
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If the owner can find a renter, they will probably just keep your deposit and charge you the rent till the new renter moves in.
So in the best case scenerio you will probably save just one month of rent and lose your deposit. Is it worth the headache?
On the plus side, you can stay in your apartment, move at your own leisure instead of rushing, and you can paint your new place or put in some other sweat equity without having to live in chaos.
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estielmo
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Though your closing date is in early January it doesn't mean that's when you have to move. Don't burn your bridges, as there can always be glitches all the way up until the papers are signed.
I advise to never notify a landlord until the ink is on the paperwork. That's the time to give your notice, even if it means a couple double-payments. There's not enough time to negotiate an early termination and you don't want to have a non-payment judgement on your credit report.
Relax and take the six weeks of double-residency to move at your leisure and to get the apartment cleaned so you get a full refund on your deposit anf keep a clean record. |
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v b
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The complex will be happy for you to continue paying rent. After all, that's what you agreed to.
Lies won't get you out of the lease. |
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utreinvestor
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first, talk to you landlord and see what they are willing to do to for you. they may offer you an agreeable solution.
second, try and find a new tenant for the complex. if they have someone who is willing to sign a new year lease they will probably let you out of your last few weeks since they won't lose any money.
third, pay the rent...
either get a reduction in your earnest money, negotiate a seller's concession, or raise the sales price the amount of the rent to make the final payments.
fourth, ask the seller for an extention on closing the sale while you finish your rental contract period.
fifth, borrow the money from friends or family to pay the rent and then repay them when you get your deposit back. |
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infinite crisis 247
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well, keep in mind that you don't have the home until you close. until then, anything can happen and the deal can fall through. you don't want to tell your landlord that you're leaving on a certain date, the deal collapses and then you're out on your butt. being that you only have 2 months left (i'm assuming that your lease would be up february 28th), and at this point, you probably aren't closing until sometime early-mid january anyways, you might be better served to give notice on january 28th and take your time moving in to your new home. is it really worth the hassle of breaking your lease over what will amount to a month's rent? not really. you would probably lose this in the lease break penalty anyways. by doing it the way i said above, you can 1. wait until after closing and then you can be sure that you have the home before telling the landlord anything. if the deal falls through, you can then re-up your lease. 2. have time to furnish, paint, modify, etc. the home before living in it. i speak from personal experience here...it's way easier to do all of this when the home is empty. 3. not feel rushed to move out. you don't want to be on deadline and then have to coordinate frantically getting out of your apartment. if you wait, you can take your time and move stuff a little at a time. this might even save you the cash of hiring movers. |
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gafpromise
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Give notice. The most you could be liable for is the extra two months rent, you may be able to negotiate them down. |
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ajsnskool
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Can you close later in January? I'm in the same situation and am going to close January 23rd. I'll pay my January rent, then tell my landlord to use my security deposit for February's rent (my lease ends at the end of Feb though). You may lose a month's rent, but if you give him notice now that you HAVE to close on the house in January or risk losing it, he may give you a break on 2 weeks rent OR he may get it rented out by then and be able to start a new lease with a new tenant earlier. (He has the obligation to mitigate any damages, read: lost rent, so he can't just let it sit vacant, he has to try and rent it.) Make sure you leave the apt spotless too. Good luck in your new home. BTW, can the seller give you any concession on the sale price of the house for your last month's rent? If the contract isn't signed yet, try asking. |
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schwildcat1977
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NO! And DON'T lie either, you don't want to ruin your credit when you are buying a house. You signed a legally binding contract and you must pay what ever penalties it states in your lease to get out of it.
I'm sorry, but you are NOT getting out without paying. |
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