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Old 06-08-2008, 12:28 AM
 
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In New York, if you bought a house and needed to terminate your rental lease early because of the home purchase, you would be able to without penalty. Does AZ have a similar law?
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Old 06-08-2008, 08:24 AM
 
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No, in AZ folks are expected to behave like adults and live up to their agreements.
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Old 06-08-2008, 08:28 AM
 
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Purchasing a home, I believe, is a legitimate reason to break a lease. I've been renting since college, a good 12 years now, and have never broken a lease, abandoned a lease, or even been late on a payment. Timing the purchase of a home, on the other hand, can't always be timed perfectly with one's lease agreement. Now, I wouldn't know that to be a fact since I've never bought a home before, but that is my speculation.
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Old 06-08-2008, 09:55 AM
 
Location: Sonoran Desert
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Quote:
Originally Posted by AzDreamer View Post
No, in AZ folks are expected to behave like adults and live up to their agreements.
Breaking a lease is a breach of contract and the landlord can, in court, forcee performance, make you pay his legals cost, and ding your credit too. You sign, you agree, you perform or pay the consequences. I can't believe that NY has a law that says you can walk on an agreement because you found a home you like better.
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Old 06-08-2008, 10:32 AM
 
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All right, I got it, I need to time my first home purchase perfectly because we all know falling in love with a house can be perfectly timed to when one's rental lease ends. It's a parallel relationship. You are both right - in essence it is breaching a contract. Although I do not condone it, there are certain circumstances whiche require it: ie moving out of state, new city, or in my case, hopefully buying my first house. I'm not going to skip out on my contract because a.) i'm not the type and b.) I've worked too hard on my credit score to do anything that stupid. All I was asking is if there are laws protecting citizens from having to pay outrageous fees. My rental contract protects my landlord from just about everything and does little for us. The contract doesn't say anything about what happens if circumstance arises that you need to break a lease so I thought I'd come here and ask. That was my my mistake. I will ask the landlord directly what the 'consequences' are. I didn't think I'd be judged and branded as irresponsible. It would be much more effective to advise that one can work with the builder/lenders on when to start payment and such, if that's even an option. I've never owned a home so i wouldn't know. It's not effective to admonish someone because of his/her question. A simple yes/no would suffice.
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Old 06-08-2008, 10:44 AM
 
27,934 posts, read 60,119,251 times
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Originally Posted by foma View Post
In New York, if you bought a house and needed to terminate your rental lease early because of the home purchase, you would be able to without penalty. Does AZ have a similar law?
Contracts are modified all the time in business...

With a lease you know the sum of your obligation and the owner has a duty to mitigate damages by making a good faith effort to re-rent...

Some leases contain a "Buy-Out" provision to cover cases like this... you also can advertise to find a new Tenant meeting the criteria as you did when you moved in.

It's not a life and death situation... you and the property owner will have to do a little negotiation...

Good Luck with your new home
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Old 06-08-2008, 10:48 AM
 
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Thanks Ultrarunner - I didn't think about negotiating the contract. That's a good point. We have to sign a new lease agreement with our land lord soon and I'm currently reviewing the contract. Before I sign, I will make sure and discuss with her directly about our situation since we plan to by around next summer. Thanks again!
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Old 06-08-2008, 01:49 PM
 
Location: Twilight Zone
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foma,
As you're planning to buy a house next summer (which I assume you mean summer of '09), ask your landlord if she will accept a new agreement wherein your lease period would be 10 months or so and would then roll-over into a month-to-month tenancy. Assure her that you will keep her fully apprised of your status once you're in contract to purchase a home, and give her as much notice of termination as possible.
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Old 06-08-2008, 04:58 PM
 
Location: Southern Arizona
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Quote:
Originally Posted by AzDreamer View Post
No, in AZ folks are expected to behave like adults and live up to their agreements.
Very good, AzDreamer . . . that's right between the eyes! ! ! ! !
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Old 06-08-2008, 05:10 PM
 
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without being a jerk, there is no such provision in AZ

check you contract to see what you buy out provisions are - subletting is also an option, but very difficult

i would be careful about taking the apartment complexes word about finding a new rental to mitigate loss

in college I needed an apartment and no one would give less than 1 year - i was working in a different city than my school and was pretty much stuck - i spent a good amount of $$ trying to get a sublet - amazingly enough none of those candidates were approved (but me with no credit background and making $8.50 an hour on a 35 hr week breezed through.........)

i was basically stuck with them going the mitigating loss route - amazingly enough they couldn't find anyone to fulfill the final 5 months in a spotless apartment - i called BS and we fought and argued and came to an agreement

when I bought out here it was right as the housing market was heating up - waiting 5 months was no option or else we would of been priced out of the market - we tried to break the lease on legitimate grounds (mold in bathroom, weed smoking kids trashed the area that our apartment looked over) - this didn't fly and we ended up just paying the buy out (was like 2 months rent)

if your lease is coming up - negotiate it in advance
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