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Old 04-28-2017, 08:14 AM
 
Location: Boise, ID
8,011 posts, read 22,526,645 times
Reputation: 9213

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Quote:
Originally Posted by Vin100 View Post
Sometimes it matters to Landlord.
If your 12 months are over in September and you want to stay for another 2 months, then the landlord may find it very difficult to get another tenant in the months of December/ January, especially in the colder states.
Also, If your lease is up in July and you want to stay for another 2 months, then the landlord loses the opportunity to rent it to prospective tenants who might want to settle before the start of their kids' school
This is exactly what I was going to say. I don't even particularly care whether my initial term is 12 months or not when I sign leases. I do everything possible to keep move outs away from November, December, and January. So I've very often given tenants the option of doing a 10 or 14 month lease and refused to do a 12 month lease if I have a winter vacancy. I don't want another one next year.

As a result, we average 10-12 move outs a month in the nice months, but only 1 or 2 most months in the winter between all 180 properties we manage.
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Old 04-28-2017, 08:44 AM
 
Location: Raleigh
6,993 posts, read 5,201,036 times
Reputation: 9438
I don't know where you live but I when I lived in Minnesota landlords were loathe to have a vacancy during the winter. People weren't out and looking, and it stuck the landlord having to pay for heat to keep pipes from freezing.
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Old 04-28-2017, 08:49 AM
 
Location: Old Hippie Heaven
16,238 posts, read 7,116,625 times
Reputation: 9238
Quote:
Originally Posted by citycitybangbang View Post
Every apartment complex seems to expect you to be able to time your leaving at twelve month intervals. I understand maybe not letting someone out before the first twelve months, but what's the difference in cost to the land lord if the renter leaves at fourteen months instead of twelve months? Wouldn't my staying for fourteen months instead of twelve actually reduce the overhead of my moving out?
It's a contract.

It should be hard to get out of a contract.

Go to your LL and discuss things. And if the LL says no - accept it and move on.
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Old 04-28-2017, 08:56 AM
 
Location: Phoenix, AZ > Raleigh, NC
14,312 posts, read 17,519,551 times
Reputation: 22159
Quote:
Originally Posted by freemkt View Post
People who write residential leases have better lawyers than people who sign residential leases written by others. There's a real estate cliche which says you make money in RE when you buy, not when you sell. Landlords make money when you sign a lease because they've got you locked in for 12 months of payments.
Which I guess explains why you live in rental housing without a lease?
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Old 04-28-2017, 03:01 PM
 
25,836 posts, read 49,741,556 times
Reputation: 19297
I've never been able to force anyone to remain... lease or not.

If the tenant vacates it is my duty to mitigate damage.

In my market a month would be a long time between tenants.

I have had teanents straight up say they would pay 2 months to break the lease and it was never a problem...

I had a young student on her own working 3 jobs and trying to get into medical school... her mom died at a young age and her father had health issues...

Anyway... she called and said someone had dropped out and she was offered the spot... but she had 7 days to physically get herself and her possessions clear across the country...

I told her to start packing... had her deposit refund check at the time she gave me the keys... she endorsed it and I exchanged if for cash...

She has been a doctor over 10 years now I read about her... still get a Christmas card too...

In her case all she had to do was ask...
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Old 04-28-2017, 06:56 PM
 
Location: Deep In The Heart of Texas
1,568 posts, read 1,193,283 times
Reputation: 2908
Where I rent an apt, after 12 months and every year thereafter you can go on month to month but it costs you $100 more each month! And I've seen where they made a tenant leave that was on month to month (waiting for the closing on the
house they purchased) because they had a new tenant that wanted the apt on a 12 month lease. They play dirty where I am. We now have to give 60 days notice and I ask what if I haven't found a place by the end of 60 days,....too bad, if they have it rented you have to leave. Plus lets say you don't want to give notice until you have found a suitable place...well they will not give any info (such as your rental history) unless notice has been given. Talk about stuck. It's not easy getting out of a lease nowadays. I've been here @this complex 9 1/2 years, never being late on my rent and never causing any problems for anyone. But they really don't care if I stay or not. After all apts are hard to find. They went up on my rent one year by $77.00. I had been given some concessions over the years and then all of a sudden the owner (corporate) directed them to bring everyone up to market rate. And when I renew I am not offered any upgrades or if everything is okay in my apt. I'm so discouraged having to rent but I'm retired now and could not buy a house. I'd like to find a private landlord who has say a duplex or such. That's my story!
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Old 04-28-2017, 07:10 PM
 
25,836 posts, read 49,741,556 times
Reputation: 19297
Supply and demand... it was not all that long ago apartments were running specials just to get people in the door...
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Old 04-29-2017, 06:25 AM
 
Location: My beloved Bluegrass
14,069 posts, read 9,800,543 times
Reputation: 18914
Quote:
Originally Posted by freemkt View Post
Whole lotta landlords these days are CASH buyers - no mortgage to pay, and obviously if they can buy with cash, they are as liquid as water.

I'm paying half my income for rent - nobody paying half their income for rent becomes wealthy while doing so.
So they should have to charge you a reduced rate because they were prudent with their own money? No one is required to share their good fortune with you, you have to create your own.

You should start by moving to a city that is affordable. There are places were you can support yourself on minimum wages. Live in one of those a while, be prudent with your money, make sacrifices, and save. My husband and I bought our first place while he was in school and I was a retail clerk/substitute teacher. It was a disgusting pig sty that required a lot of sweat and willingness to do nasty jobs that in the end gave us equity.

By the way OP, when you own, as opposed to rent, there is no getting out of a lease. You are stuck with the property, including all bills and any problems associated with it, until you can convince someone to buy it. If that doesn't work, your next best option is to rent it out. That is how we became landlords, we were unable to sell our home but had military orders to move 12 hours away. As a rented your liability at least has a time limit.
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Old 04-29-2017, 06:41 AM
 
Location: SW Florida
9,120 posts, read 3,936,411 times
Reputation: 18807
Quote:
Originally Posted by citycitybangbang View Post
What I meant was if I moved out and was released from the lease at fourteen months, it wouldn't cost the land lord any more than if I just hadn't renewed my lease when it expired at twelve months. It actually costs him a little less if turnover happens a little less frequently. However, it costs me an enormous amount of money if I need to leave at fourteen months instead of twelve months, which doesn't make sense. I'm costing the land lord a little less money but being heavily penalized for it.



I guess it just depends on the landlord or management company. I was fortunate to have one that let me go month to month for a few months while I was looking to buy something in a very competitive market.
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Old 04-29-2017, 06:48 AM
 
Location: SW Florida
9,120 posts, read 3,936,411 times
Reputation: 18807
Quote:
Originally Posted by Ultrarunner View Post
Supply and demand... it was not all that long ago apartments were running specials just to get people in the door...


I remember it well, I believe it was 2009 when the place I was moving to was offering a free month! I was paying $565 for a nice, but outdated 1 bedroom plus a small den apartment. The same place is now going for over $1000 but at least they have updated most of the units.
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