Feb
24
how do i dissolve a lease agreement without all of the penalty charges?
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i am cuurrently leasing an apartment. in 2 weeks i move into a house that i just bought. there are 3 months left on the lease. i’m not sure how to dissolve the lease without getting alot of penalty charges.
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4 Comments
February 27th, 2009 at 10:20 am
Talk to the owner/manager - if theres a waiting list for the building they’l release you from the lease.
If not, u can explain the situation and often can come to an agreement.
March 2nd, 2009 at 1:03 am
Good luck my friend. I had to back out of my lease with 2 months remaining because I found a better place. My penalties were $1,500 (and i suspiciously didn’t get any security deposit back either). But, the $1,500 was less than the 2 months rent, so it was alright with me.
Do the math, see if its more or less than you’d still owe in rent, then do the cheaper one.
There’s no real way out.
March 2nd, 2009 at 1:13 pm
That is why they make you sign papers.
March 3rd, 2009 at 3:16 pm
My dad is a landlord and he usually will let tenants out of leases if they let him know ahead of time, promise (and keep the promise) to move in good standing (paying rent on time, keeping the place clean and not leaving things broken), return all copies of the keys, and sign a paper nullifying all their part of the lease (meaning they are releasing the house or apartment back to the landlord/manager). I strongly suggest talking to your manager or landlord as soon as possible. If you are not in good standing, they may agree just to hurry and get you out. If they will not let you out right then, you may see if you can transfer the lease to someone else.
If that is not possible for some reason, consider finding some people who need temporary storage for items and store them for a fee for the remainder of the lease in exchange for partial payment of the bills, but make it clear they have only that long to pick the items up or you have to get rid of them. Have an agreement where you can sell the items if they do not get them in time. I’ve heard of a few people handling it this way, but it can get sticky, so try the other ways first. Good luck!