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Hello all, I'm looking to move apartment in the near future and have found a very promising place.
The prospective landlord seems very amenable. However when drawing up the lease I would like some sort of early termination clause so if something happens and I have to move out early I am not on the hook for the whole 12 months of rent.
I'm not sure legally what the right clause or phrasing would be so can anyone advise me of this?
Doing some basic research I think that an Early Termination of Lease Addendum is what I want however I'm not sure.
Also if anyone has any tips on how they've broached this subject with potential landlords I'd be very grateful.
Thanks in advance.
You didn't mention what state you plan on living in/moving to. Do you plan to find another place in WI? If so, either your lease should have an early lease termination clause listed that must follow the WI rental statutes or if nothing in the lease then you can read up on the WI statutes for breaking a lease early here. wisconsin breaking a lease at Tenant Resource Center
And, a LL in WI has a duty to mitigate so if you were to break a lease you should never be on the hook for the full 12 months or the majority of months left on your lease term. In other words, they can't just sit on the apt and not try to rerent it. More on this in link above.
Last edited by Corn-fused; 05-13-2018 at 06:55 PM..
I think you're going to have a hard time getting a LL to agree to your terms. The ones that use a yearly lease do so because they don't want the cost/hassle of filling a unit every few months. If you don't want to sign a yearly agreement, look for a place that is only month-to-month. Problem solved.
You didn't mention what state you plan on living in/moving to. Do you plan to find another place in WI? If so, either your lease should have an early lease termination clause listed that must follow the WI rental statutes or if nothing in the lease then you can read up on the WI statutes for breaking a lease early here.
[url=http://www.tenantresourcecenter.org/tags/wisconsin_breaking_a_lease]wisconsin breaking a lease at Tenant Resource Center[/url]
And, a LL in WI has a duty to mitigate so if you were to break a lease you should never be on the hook for the full 12 months or the majority of months left on your lease term. In other words, they can't just sit on the apt and not try to rerent it. More on this in link above.
Yes it would be in Wisconsin. I would like an early termination clause in the lease, how much should I offer to pay in this clause? Ie 60 days notice and 2000 to terminate early?
Yes it would be in Wisconsin. I would like an early termination clause in the lease, how much should I offer to pay in this clause? Ie 60 days notice and 2000 to terminate early?
You don't get to decide or negotiate how much you would pay or how much notice needs to be given. The WI state statutes determine the laws and set the limits that a LL must abide by. If you start out asking a LL to negotiate those terms I highly doubt you will be selected for the apt. No LL wants to hear up front that someone who is signing a year lease is already contemplating moving within that year lease term. If you don't like the terms then it is best that you try to find a LL who accepts month-to-month leases but be prepared for your rent to be increased with just a 30 day notice. But, you can also just give 30/60 days notice to move and then no further obligation with a MTM.
What you do is ask for a copy of the lease so you can review it prior to applying or accepting an apt and if you don't like the terms then you don't take the apt and move onto the next. You need to read the link I posted above to see what LL's are allowed to do first so you are prepared (which is the most important issue) and make sure that LL's are not abusing the law. As long as the lease is within the parameters of that law that is all that matters. The majority of leases already contain a break lease clause and I doubt there are many, if any, LLs that are willing to change or negotiate their terms.
Last edited by Corn-fused; 05-13-2018 at 07:48 PM..
In WI, the landlord has a duty to mitigate damages, which means they must try and find a new tenant with reasonable means, if you break your lease. So, you can break your lease, but must pay rent until they find a replacement for you, using reasonable means.
My son and his wife sold their house more quickly than they thought they would. School wasn't out, and they needed to rent in the same district for their kids to remain at their schools.
They were upfront with the LL and knew the early termination penalties from Day 1. The LL knew they were moving out before the lease was up. Yes, they paid a higher rent in addition to the penalty.
Of course, your situation is very different. You think you "might" want to move out before the lease is up. There was no doubt that they were leaving early. They were there for four months.
A lot of landlords like to have an early lease termination fee stated in the lease. Just ask. If they don't already have one or aren't interested, move on to the next landlord.
It's a very common practice. Two month's rent is pretty much standard with security deposit handled in the normal way with damages deducted and balance returned to the tenant..
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