Legal question re: breaking lease (Temple Terrace: apartment complex, leases, attorney)

[whyaz]

My long-time apartment complex, like much of Temple Terrace, is in serious decline. Now I have been told by a complex employee that the owner is about to sell the place to HUD or do whatever it is you do to convert the entire complex to HUD...which I assume is low-income housing.

It is April and my lease is not up until December. There is a $1,200 penalty in the lease for breaking the lease early. If I move early under these circumstances and for these reasons, am I liable for that penalty? Do I have any recourse?

Thanks

[Eastern Roamer]

I am not a lawyer, but yeah, you would have to pay to break your lease unless you apartment becomes "uninhabitable" - which means no running water or a roof caving in, for example. Shady neighbors or unpleasant vibes do not make a place uninhabitable.

What I would do, assuming you've been courteous to management and timely with rent, is see if they will let you out of your lease out of generosity or sympathy. If you kiss their rear they might let you out of it. After all, they've sold the place - there's a good chance the property manager doesn't give a fidler's fart about keeping the place rented.

[TampaKaren]

About to sell is not the same as sold. If the complex has sold, the new owner assumes the existing leases, and you will be notified at some point. I would guess that you have quite some time left considering the previous and the fact that commercial deals take much longer to complete than in a residential sale. Keep in mind also that your lease agreement is a binding contract for both tenant and landlord. Please consult an attorney for legal matters.

[bentlebee]

I agree with the previous posters...you will be liable for the lease break penalty since you have no hardship under the Law.

[HughMcs]

I think you are stuck until December. But on the bright side you have plenty of time to look for a really good apartment without worrying about having a roof over your head

[mquintana]

I worked in property management for many years.

You are bound to that lease until it expires unless you want to pay the fees to break it.

The only other way out of the lease is if management will let you out without penalties (for things such as mold or some other hazards). I would be sure to get that in writing if you can find a way to do so.

As for selling the property, it can take months or longer. There is more involved with selling an apartment community rather than a house. Usually what happens is your current lease will carry over to the new company.

[crazynip]

You are just now realizing that Temple Terrace is ghetto? LoL...

[tinytrump]

I think you can write a 30 day notice, send it registered and get out with just a penalty. not the full amount of $1200 or future rent. call HUD. but if I rember correctly in the state of Fla you can bail with proper notice. you will lose deposit.. is that what the $1200 is?

[craigm1841]

Part of the selling factor and appeal of a property when looking to purchase a complex is the income it generates. You better believe your lease is valid and remains a standing contract with the new property owners. I bet it was on one of those 40 or so pages you initialed without reading. My complex just did that without skipping a beat. New management came in and already made some improvements.

It isnt worth the hassle. Ride your lease out while plotting your next move.

[chi_tino]

Originally Posted by tinytrump

I think you can write a 30 day notice, send it registered and get out with just a penalty. not the full amount of $1200 or future rent. call HUD. but if I rember correctly in the state of Fla you can bail with proper notice. you will lose deposit.. is that what the $1200 is?

I'm going to have to call you out here. If you just bail, regardless of providing notice or not, you had better be ready to pay the penalty OR be liable for the full amount of the remaining months of the lease.

You can't legally break a contract merely by sending a letter saying that you plan to break the contract. That is ridiculous.