Break lease or wait?

[ayoitzrimz]

Originally Posted by thatgirl0206

That's a great question. I never thought of that. Our lease says:

You may not assign or sublet without our prior written consent, which may be withheld in our absolute discretion. Replacing, adding, or subcontracting a resident is allowed only with our written consent. We may specifically condition any changes to authorized occupants upon among other things, successful completion of the application process by any proposed new resident, payment of application fees or other customary fees and charges required by new residents, and the execution of any documents we deem necessary. The departing resident must agree in writing as to the disposition of any security deposit. The departing resident will no longer have a right to occupancy or a security deposit refund, but will remain liable for the remainder of the original lease term unless we agree otherwise in writing—even if a new Lease Contract is signed.

So, I guess we could but we'd have to get approval. This is all new to me. I know nothing about it.

That feels like the landlord / management company are protecting their right to deny you subletting it to just anyone. Most leases have that language. Our lease had the same language when In fact , when we rented and thought about subletting (when we bought a house) the management company even offered to keep an eye out for short term renters who might be interested . We ended up just keeping the apartment because it was just an extra month after we moved out

[JD401]

Originally Posted by thatgirl0206

That's a great question. I never thought of that. Our lease says:

You may not assign or sublet without our prior written consent, which may be withheld in our absolute discretion. Replacing, adding, or subcontracting a resident is allowed only with our written consent. We may specifically condition any changes to authorized occupants upon among other things, successful completion of the application process by any proposed new resident, payment of application fees or other customary fees and charges required by new residents, and the execution of any documents we deem necessary. The departing resident must agree in writing as to the disposition of any security deposit. The departing resident will no longer have a right to occupancy or a security deposit refund, but will remain liable for the remainder of the original lease term unless we agree otherwise in writing—even if a new Lease Contract is signed.

So, I guess we could but we'd have to get approval. This is all new to me. I know nothing about it.

That's pretty much identical to mine. Same language regarding the deposit. It's basically just their way of saying anyone you bring to them as a sublet candidate still has to pass through their screening process i.e. credit check, three times rent for income, etc. Sounds like a potentially doable option. I took photos of my apt like it was something I was selling for posting the ad on Craigslist. Worked well for me. You'd just want to contact one of the leasing agents and ask them what they would need for you to sublet to someone. They should be able to easily walk you through the process.

[PetiteMinette1]

Originally Posted by JD401

That's pretty much identical to mine. Same language regarding the deposit. It's basically just their way of saying anyone you bring to them as a sublet candidate still has to pass through their screening process i.e. credit check, three times rent for income, etc. Sounds like a potentially doable option. I took photos of my apt like it was something I was selling for posting the ad on Craigslist. Worked well for me. You'd just want to contact one of the leasing agents and ask them what they would need for you to sublet to someone. They should be able to easily walk you through the process.

Yes.
When I moved here 4.5 years ago, I sub-leased an apt in a complex. I had to apply and be "approved" by the management company, and then I was responsible for the last 7 months of the lease. I suppose if I hadn't paid, the management company could have gone after the original renter for the lost rent, but I'm boring and I pay my bills on time.

[himain]

OP I'd talk to leasing company about you buying a house. Sometimes there's less penalties for that

[2bindenver]

You could have a discussion regarding wanting to buy, maybe offer a 90 day notice. See if you can work out a win-win.

Worst that could happen is they say no. Then you are faced with prospect of buying and letting the seller's retain possession for a month or two, or waiting.

[eearhart]

We were and are in a very similar position. Given this market and a healthy fear of the springtime upswing, we decided to bite the bullet and buy. Our rent is ridiculously high but we were OK with that as a one-car family moving to a new city, wanting to explore by foot and bike. In any case, should everything go smoothly on our purchase we will be saving over $500/month with the new mortgage.

Our complex is particularly difficult when breaking a lease. They required a 2-month notice as well as payment for 2 additional months. To top that off, they wanted it upfront which was going to be almost 10k. Ultimately we won't have to pay upfront, but will still owe said payment. BUT, closing is in December and the first mortgage payment isn't due until late February, so we are really only paying double for one month and even that is refunded eventually through our initial deposit!

Don't count it out, it could pan out very well for you.

[BabyBoomers2]

Apparently we done the timing just right when we decided to buy a house. We were renting at the time, our Lease came up and we changed it to "month-to-month". The monthly rent was more expensive, but at least we didn't have to worry about breaking it or paying extra to break it. Like I said, we pretty much timed our move just right, when it came to our apt. Lease.

We are again Leasing an apt. and, depending on how my wife's new job goes, we will be going "month-to-month" in January in order to be able to move back to south Denver next year in the Spring.

Sometimes, if the "timing" is just right, going "month-to-month" on an apartment Lease is the way to go. Not many folks, unless really financially able, want to pay extra money to get out of a Lease. I know we could never to that.