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I currently own a home in Indianapolis, which I'm renting, but ready to move back into on May 1st. I'm renting an apt in Florida for 700$ a month, and by the time I move out, I'd have stayed a total of 8 months. My lease break fee is two months rent or $1,400.
I'm more than happy to pay this, however they also want $200 a month back in reduced rent for a total of $1,600 saying I got it at a reduced rate. The lease does state as such. However, I've checked online, had friends call them, and asked other long time tenants about the rental prices and it's always been $700. Whats to stop a company from telling you, you are getting a reduced rate, and then making you pay back concessions, when their really are none at all? If you choose to break the lease.
Where I'm standing I'm willing to give them the $1,400 and let them keep the deposit, $500. But the $1,600 doesn't make sense. I have my own house already, I don't need their recommendation, please advise.
Could you clarify please? Does the lease state only that you are receiving a reduced rate, or does it actually state that tenant will pay this difference if lease is terminated early?
Thats a new one for me, may have to check with an attorney though I'm certain someone more knowledgeable will pop up soon. If the lease states you are getting a break, then you are getting a break, and apparently everyone else is to, the landlord is saying that the going rate for that rental could be more, possibly should me more if it weren't for the economy and employment levels, and that they have the right to raise it to that level upon lease renewal. I don't see how they can charge you for the difference, unless that too is in the lease agreement. If it isn't I don't think they can.
Its says I'm receiving a concession of $200 a month on normal rent. Property normally rents for $900, I'm receiving it for $700, for a total concession of $2,400. I'll be here 8 months when I leave, so $1,600 in concessions.
Lease states that if tenant breaks lease they are to pay 2 month lease break fee and pay back all concessions, so 8 months at $200 a month.
However, everyone here pays $700. Well I haven't asked everyone, but I have asked 11 people, all here longer than me. Right now vacant units are renting for $700. It just doesn't make sense to me.
I'm guessing the lease states something related to receiving reduced rate based on a 1yr lease. I've run across a couple of complexes that offer 6month & 1yr leases, and they give you a better monthly rate if you sign for a year. But I've never actually rented from one, so I don't know what, if anything, they might have in their lease about paying the difference if lease is broken. I can see why they might, if they give a reduced rate based on receiving rent for a full year. But I'm waiting to hear what OP says about their actual lease.
Its says I'm receiving a concession of $200 a month on normal rent. Property normally rents for $900, I'm receiving it for $700, for a total concession of $2,400. I'll be here 8 months when I leave, so $1,600 in concessions.
Lease states that if tenant breaks lease they are to pay 2 month lease break fee and pay back all concessions, so 8 months at $200 a month.
However, everyone here pays $700. Well I haven't asked everyone, but I have asked 11 people, all here longer than me. Right now vacant units are renting for $700. It just doesn't make sense to me.
Ooops ... we must have been typing at same time. I'm no expert, but it looks to me like you are legally obligated. You did sign the lease, with that condition in it.
If "everyone" is paying $700, they may all have that same condition in their lease as well, and just didn't pay attention. Or the landlord has thrown it in figuring no-one will notice, and if someone (You) breaks the lease he can collect.
Last edited by fraydnerv; 12-19-2011 at 10:03 AM..
Reason: typo
The only option is one year leases, so I don't know if that is applicable. Right now if you move in, rent is $700. It was the that a year ago, and two years ago. But they state it as a monthly special. Normally rents for $900. But it never has actually been $900, for at least three documented years.
I think it's a way of trapping people in a lease, even if the pay the appropriate lease break fee, which I'm willing to. They also won't let me assign the rent to someone else, which I was willing to do and pay the fee.
The only option is one year leases, so I don't know if that is applicable. Right now if you move in, rent is $700. It was the that a year ago, and two years ago. But they state it as a monthly special. Normally rents for $900. But it never has actually been $900, for at least three documented years.
I think it's a way of trapping people in a lease, even if the pay the appropriate lease break fee, which I'm willing to. They also won't let me assign the rent to someone else, which I was willing to do and pay the fee.
I'm guessing that you are probably right, however I'm also guessing it's technically legal. Even if you could prove they have never charged a tenant $900 I don't think it would matter. You signed the agreement.
In FL, I have seen leases that are 7 months....and those have a higher rent versus 12 month leases. However, you have a 12 month lease. Your settlement to the landlord (for leaving early) is the 2 months early termination fee.
IMO, the LL is wrong. They are trying to double dip...get the early termination FEE and the extra rent for short term lease.
As long as you follow the lease, you are fine. They are trying to add a higher rent that was not mentioned in the lease, right? You didn't agree to that.
There is no way they can sue you for that and win. Check FL landlord tenant law. Also that 60 day early termination clause is now mentioned in FL statutes. You might discuss with a real estate attorney if you can get a free consultation.
They should owe you the entire deposit once you move out as long as there are no damages and you give proper notice to move out. You can sue them for the deposit if they try to state that they are charging you an extra $200/mo that is not in the lease. You should win easily. Also if you win in FL for deposit, the loser owes attorney fees and court costs. Maybe you can get an attorney to represent you and then the attorney can collect their fee from the landlord when the landlord loses in court over keeping your deposit (as partial payment for the illegal increase in $200/mo rent)
In FL, I have seen leases that are 7 months....and those have a higher rent versus 12 month leases. However, you have a 12 month lease. Your settlement to the landlord (for leaving early) is the 2 months early termination fee.
IMO, the LL is wrong. They are trying to double dip...get the early termination FEE and the extra rent for short term lease.
As long as you follow the lease, you are fine. They are trying to add a higher rent that was not mentioned in the lease, right? You didn't agree to that.
There is no way they can sue you for that and win. Check FL landlord tenant law. Also that 60 day early termination clause is now mentioned in FL statutes. You might discuss with a real estate attorney if you can get a free consultation.
Please re-read this thread. OP has stated that he/she did sign a lease, agreeing to exactly that.
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