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Old 07-02-2007, 08:05 AM
 
Location: Clayton, NC
1,515 posts, read 6,984,044 times
Reputation: 664

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Trying to help out a friend here...

Isnt there some housing assistance or something that allows you to break a lease you have with an apartment if you are buying a house?

My friend thinks he read something about that, just wondering if anyone knew.

Thanks!
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Old 07-02-2007, 08:10 AM
 
3,353 posts, read 4,966,793 times
Reputation: 964
There's no such law (well to be honest I haven't checked NC but that's the case in other states and likely NC as well) - technically landlords can hold you responsible for the full amount of the lease, but they also have to re-rent asap and can't double charge.

In my complex the deal is that if you break the lease you give 2 months' notice and you pay them for those two months.
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Old 07-02-2007, 08:27 AM
 
Location: Louisville, Kentucky
32 posts, read 56,061 times
Reputation: 14
Not sure about NC, but I know in New Jersey when I lived there before, I gave my owner a two month notice and he said that if he could rent the apt before I moved out everything was fine. If not, then he was just going to keep my security deposit which was one month's rent.

I agree with scorp200, you probably need to check with the housing assistance program in your area to see what your rights are.

Good luck!
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Old 07-02-2007, 08:52 AM
 
Location: Cary, NC
2,135 posts, read 7,657,757 times
Reputation: 1610
I see a lot of people sublet on Craig's List to take over the lease. Just a thought!
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Old 07-02-2007, 09:17 AM
 
321 posts, read 1,577,570 times
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When we bought our house we just explained to the seller's that we were interested but they would have to pay some closing costs to cover the cost of breaking the lease. They did and we had a deal! It worked out for us.
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Old 07-05-2007, 12:05 PM
 
5 posts, read 19,657 times
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No such law...My hubbie and I are doing the same thing and he is law school grad.....no indeed or we'd be in luck....
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Old 03-27-2008, 05:04 PM
 
1 posts, read 9,936 times
Reputation: 10
Quote:
Originally Posted by ferrickhead28 View Post
Trying to help out a friend here...

Isnt there some housing assistance or something that allows you to break a lease you have with an apartment if you are buying a house?

My friend thinks he read something about that, just wondering if anyone knew.

Thanks!
I need to know this as well.....what have you found out.....I am a realtor with a client stuck in an apartment lease wanting to purchase a home....

Thea
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Old 03-27-2008, 05:23 PM
 
31 posts, read 92,808 times
Reputation: 13
Default I might be interested....

I am starting a new job 5/12 and need a short term place to live. I may be interested in subleasing.........
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Old 03-27-2008, 05:30 PM
 
Location: Southeast US
1,467 posts, read 5,130,150 times
Reputation: 1016
I broke my lease to purchase a home last year. There isn't any sort of law to assist in that matter. I negotiated a closing date that was two months out. Then I talked to my apartment complex manager. I had two options; either pay the lease breakage fee or move out and keep paying rent while allowing the complex to show the apartment. I ended up only paying one month's rent, and the apartment was able to rent it to someone. It was a gamble.

Beware of subletting. If the person subleasing defaults, the lease will revert back to the original person leasing. In my case, the apartment complex broke my lease and had the new person sign a lease.
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Old 03-27-2008, 05:51 PM
 
31 posts, read 92,808 times
Reputation: 13
Default beware?

Quote:
Originally Posted by JJingle View Post
I broke my lease to purchase a home last year. There isn't any sort of law to assist in that matter. I negotiated a closing date that was two months out. Then I talked to my apartment complex manager. I had two options; either pay the lease breakage fee or move out and keep paying rent while allowing the complex to show the apartment. I ended up only paying one month's rent, and the apartment was able to rent it to someone. It was a gamble.

Beware of subletting. If the person subleasing defaults, the lease will revert back to the original person leasing. In my case, the apartment complex broke my lease and had the new person sign a lease.
I guess I should have been more clear that I would expect to rewrite the agreement with complex management.
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