Breaking a lease in Newport Jersey City (sublease, apartment)

[rdr2007]

Does anyone have any experience with breaking a lease in Newport, Jersey City (Lefrak building)?
We were told we have the following options:
1. Find a new tenant that will take over our lease. If we find someone to take over our lease, we pay $500 admin fees, and get our security deposit back. New tenants will go through usual screening as if they were applying to be new tenants of Newport.
2. Give a notice to vacate the apartment. After handing in the keys, leasing office will try to re-rent the space. They hold on to the security deposit until they find another tenant. The management office said we are liable for up to 3 months worth of rent.


We are in the process of trying to get a new tenant (we have 6 months left starting August).


Does anyone know if #2 option can actually be enforced? We are paying almost $2700 monthly rent, and they have one and a half month rent. That's a substantial amount.

[jaymoney]

What does your lease say?

[MrsPiggleWiggle]

Go with route 1. That's the convention. The leasing office will often re-list a unit at the current market price, which may be higher than your $2700.

I often see subleases on Craiglist for Newport all the time. If your rent is less than the market rate, your place will be rented very quickly.

[jobaba]

Originally Posted by rdr2007

Does anyone have any experience with breaking a lease in Newport, Jersey City (Lefrak building)?
We were told we have the following options:
1. Find a new tenant that will take over our lease. If we find someone to take over our lease, we pay $500 admin fees, and get our security deposit back. New tenants will go through usual screening as if they were applying to be new tenants of Newport.
2. Give a notice to vacate the apartment. After handing in the keys, leasing office will try to re-rent the space. They hold on to the security deposit until they find another tenant. The management office said we are liable for up to 3 months worth of rent.


We are in the process of trying to get a new tenant (we have 6 months left starting August).


Does anyone know if #2 option can actually be enforced? We are paying almost $2700 monthly rent, and they have one and a half month rent. That's a substantial amount.

#2 sure can be enforced and you can better believe they will.

A family member of mine was in the same situation and broke a lease and were forced to pay 3 months rent at an even higher monthly rent than you.

Fortunately for them, they were moving to take a very high paying job, so they just ate the $.

Nice for rich people to be able to eat 10K like that, ain't it?

In the case of my family member, I don't even think it mattered if they found someone to rent the apartment the day after they moved out. They were still liable for the 3 months simply by breaking the lease. Gotta read the fine print...

[MiamiLIFE]

Originally Posted by rdr2007

Does anyone have any experience with breaking a lease in Newport, Jersey City (Lefrak building)?
We were told we have the following options:
1. Find a new tenant that will take over our lease. If we find someone to take over our lease, we pay $500 admin fees, and get our security deposit back. New tenants will go through usual screening as if they were applying to be new tenants of Newport.
2. Give a notice to vacate the apartment. After handing in the keys, leasing office will try to re-rent the space. They hold on to the security deposit until they find another tenant. The management office said we are liable for up to 3 months worth of rent.


We are in the process of trying to get a new tenant (we have 6 months left starting August).


Does anyone know if #2 option can actually be enforced? We are paying almost $2700 monthly rent, and they have one and a half month rent. That's a substantial amount.

The lease is a legally binding contract. It can be enforced. The terms are not suggestions...lol. The future scares me.

[jaymoney]

This is why I told them to read the actual lease, because that's what determines the penalties, not what the office says.

[ansky]

Originally Posted by jaymoney

This is why I told them to read the actual lease, because that's what determines the penalties, not what the office says.

Exactly. Make them show you a copy of the exact lease you signed, since the rules can change from year to year.

[MR77]

If you have been there for a while and are paying under market it may be easier to get out of your lease. I know in my situation, my landlord would probably prefer me to vacate so he can renovate and bring the rate up to market.