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Old 01-14-2011, 01:47 PM
 
Location: Mars
527 posts, read 919,498 times
Reputation: 357

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Folks

We are breaking our lease with 60 day notice and moving to a house.

Is there a way to reduce the financial impact of the lease breakage? (which will cost me around $2000)...
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Old 01-14-2011, 01:55 PM
 
Location: Lansing, MI
2,948 posts, read 7,018,321 times
Reputation: 3271
The only way you can really reduce it is hope and pray the LL can get it re-rented quickly. LL can't collect double rent for the same time frame, and your fees are essentially your rent payments until the end of the lease.
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Old 01-17-2011, 07:42 AM
 
Location: Charlotte, NC
4,761 posts, read 7,832,266 times
Reputation: 5328
Chance is correct. Maybe look into finding someone to finish the lease out?
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Old 01-18-2011, 09:12 AM
 
Location: Charlotte, NC
20 posts, read 30,513 times
Reputation: 19
I was in this situation before and found someone to take over my lease for me.... I took a couple pics of the place and listed it on craigslist with my contact info. I asked my landlord before I made a posting. My landlord was really happy.....I met a couple ppl and showed the apt before i moved out and they were living there a couple weeks after i left.
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Old 01-18-2011, 10:21 AM
 
Location: Charlotte, NC
550 posts, read 1,808,121 times
Reputation: 194
Finding someone else is the best option - that's why there's a penalty and you have to sign something... so the landlord doesn't lose out. If you are in a place that is in demand, there may not be as big of a penalty - but you'd have to discuss that with the landlord, as well.
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Old 01-18-2011, 09:00 PM
 
Location: Durham, NC
3,576 posts, read 10,653,670 times
Reputation: 2290
In my experience, I've found most apartment complexes to be rather tolerant of breaking a lease for a home purchase with minimum penalty. Can't hurt to run it by them.
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Old 01-19-2011, 12:47 AM
 
958 posts, read 1,724,085 times
Reputation: 451
Why wouldn't you close on your house a few days before your lease expired?
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Old 01-19-2011, 11:22 AM
 
Location: Lansing, MI
2,948 posts, read 7,018,321 times
Reputation: 3271
Quote:
Originally Posted by USCRugbyNo1 View Post
Why wouldn't you close on your house a few days before your lease expired?
OP didn't say they were purchasing, just moving into. Hard to know the situation is an actual closing.

If it is closing -- this is something you don't have a lot of control over with a purchase depending on the type of house purchased.
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Old 01-21-2011, 11:33 PM
 
958 posts, read 1,724,085 times
Reputation: 451
Quote:
Originally Posted by chance2jump View Post
OP didn't say they were purchasing, just moving into. Hard to know the situation is an actual closing.

If it is closing -- this is something you don't have a lot of control over with a purchase depending on the type of house purchased.
Well if they were purchasing they have ALL the power to control that closing date on a normal transaction.
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Old 01-23-2011, 09:14 AM
 
308 posts, read 617,605 times
Reputation: 278
Quote:
Originally Posted by ADA_NC View Post
Folks

We are breaking our lease with 60 day notice and moving to a house.

Is there a way to reduce the financial impact of the lease breakage? (which will cost me around $2000)...
Looks like you are screwed. I recently experienced such an event. Unless the lease states otherwise, you are liable.
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