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Old 06-08-2016, 12:09 AM
 
2 posts, read 1,533 times
Reputation: 10

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Hi, All!

My roommate and I recently paid a holding deposit for an apartment, got our applications approved and then received the contract for us to sign. It came to my attention that the manager only mentioned (verbally without any documentation) that the rent is $2,399, while the contract lists the rent is $2,675, with a concession amount of $276, so that that $2,399 = $2,675 - $276. The problem is that in case of early termination, I will be responsible for the amount of $276 times all months of duration of contract. The termination fee as listed in contract is $2,675 plus all concessions.

Questions:

1. What's stopping property owners to receive holding deposit from prospective residents by mentioning a rent of, say, $2,399, then actually having a contract listing a monthly rent of $50,000 and a monthly concession of $47,601, so that they'll be able to charge the listed concession amount in case of early termination?

2. If I fail to resolve this with the manager but still decide to proceed with this apartment, then decide at some point that I must terminate early and succeed to find a successor who will be able to move in immediately, am I still responsible for the termination fee in full as listed in the contract? Do Civil Codes 1951.2 and 1951.4 apply?

3. If I decide not to proceed with this apartment, will I be able to receive the full amount I paid as application fee plus holding deposit, since it had not been mentioned that the actual rent is $2,675?

Thank you all in advance!!
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Old 06-08-2016, 01:44 AM
 
2 posts, read 1,533 times
Reputation: 10
Rewording for clarification
-

Hi, All!

My roommate and I recently paid a holding deposit for an apartment, got our applications approved and then received the contract for us to sign. It came to my attention that the manager only mentioned (verbally without any documentation) that the rent is $2,399, while the contract lists the rent is $2,675, with a concession amount of $276, so that that $2,399 = $2,675 - $276. The problem is that in case of early termination, I will be responsible for the amount of $276 times all months of duration of contract, plus the termination fee of $2,675.

Questions:
1.
What's stopping property owners to receive holding deposit from prospective residents by mentioning a rent of, say, $2,399, then actually having a contract listing a monthly rent of $50,000 and a monthly concession of $47,601, so that they'll be able to charge the listed concession amount in case of early termination?

2.
If I fail to resolve this with the manager but still decide to proceed with this apartment, then decide at some point that I must terminate early and succeed to find a successor who will be able to move in immediately, am I still responsible for the termination fee plus concessions in full as listed in the contract? Do Civil Codes 1951.2 and 1951.4 apply?

3.
If I decide not to proceed with this apartment, will I be able to receive the full amount I paid as application fee plus holding deposit, since it had not been mentioned that the actual rent is $2,675?

Thank you all in advance!!

Last edited by letsplaay; 06-08-2016 at 01:54 AM..
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Old 06-08-2016, 10:12 AM
 
Location: Sylmar, a part of Los Angeles
8,344 posts, read 6,436,914 times
Reputation: 17463
If I was paying that much rent I would buy a house, heck I'd buy two and rent one out and you be the landlord.
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