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My landlord and I are in talks to extend my current lease. I am looking to relocate out of state in early 2014, but I am looking for jobs with no offers in-hand yet.
The LL offered to extend my current lease, rather than terminating too soon or renewing a full year that I can't commit to. I would have to confirm within the next day if I want to extend or terminate
My question is, is it a good idea to extend for a timeframe, even if it's short? I would end up paying a penalty if I got an offer out of state before my lease is up. I would not want to turn down an offer due to a lease. Also, I won't be able to sublease legally.
Should I just terminate and find a short-term housing situation while I look for out-of-state jobs? I like the stability of not having to find new housing, but at the same time, I may lose a large chunk of my deposit if I agree to an extension and need to relocate right away.
It is common when a lease expires for it to continue on a month to month basis, until such time as the landlord gives you notice that they want to change the terms of the lease. Even then you can even agree to a rent increase on a month to month basis with a simple amendment to the existing lease. Some states, or your lease may require more than 30 days notice to change or end the lease.
Do you know where you want to move yet? It is easier to find a job when you are already living somewhere. Hard to get out of state jobs.
If you already know where you want to move, I'd say give notice and go for it.
First, do as suggested above and ask the LL if you can just go month to month. I'm guessing that's not an option by the way you wrote your post.
Best of luck to you!
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