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Old 10-22-2012, 01:53 PM
 
2 posts, read 6,854 times
Reputation: 10

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I have been renting a townhouse from a management company for just over 2 years now. I am 3 months into an 8 month lease. (It's short because it looked like I might be getting relocated at the time of renewal and the best the company would do was a shortened lease.) In the end I did get relocated, I found out Oct 1 that I'd need to be at a new position on Nov 1. I immediately contacted my management company about my options. They said I could find someone to sign a year lease and I could walk away at the end of October. I could pay a 3-month buyout ($3,300) and forfeit the security deposit. Or I could sublet. I've advertised and shown the townhouse all month but haven't found a renter or subletter.

The only thing my lease says about early termination is that I'm responsible for the rent and the company is responsible to mitigate damages by finding a renter (and I have to pay a $350 fee for vacating the property early).

I would consider the buyout at this point but I don't think it's fair to pay 3 months AND forfeit the security deposit. If I'm going to go through the effort to clean the unit, as well as taken perfect care of it for 2 years, I should get the deposit (minus any repairs they feel they need to make) returned. Looking for advice when I go in to discuss this with the management company. Do I stand a chance? Does anyone have any tips? For the record, my company will only pay up to $1000 for me to break a lease for relocation.
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Old 10-22-2012, 03:44 PM
 
Location: The Triad
34,090 posts, read 82,611,550 times
Reputation: 43652
Quote:
Originally Posted by Nadircs View Post
The only thing my lease says about early termination is that I'm responsible for the rent and the company is responsible to mitigate damages by finding a renter (and I have to pay a $350 fee for vacating the property early).

That should be one or the other (in most states) but if you don't want to roll the dice on all that...
...I could pay a 3-month buyout ($3,300) and forfeit the security deposit.
Quote:
I should get the deposit (minus any repairs they feel they need to make) returned...
Yes you should. But that discussion doesn't even begin until the first discussion is settled.

Use the links above to find YOUR state laws on the matter.
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Old 10-23-2012, 12:48 PM
 
Location: North Idaho
32,529 posts, read 47,608,287 times
Reputation: 77907
Suggestion: do not sublet. That leaves you still liable for damages. Let the management sign a new agreement with the new tenant so that you are out of it.

Whatever it says in your lease is what you are going to have to do.

Management can't have it both ways. They can charge you for the entire lease if they wish to do so. You signed it, you are legally bound by it. However, if they find a new tenant, they can not collect double rent for the unit, so you don't have to pay for any time that they are collecting rent for a new tenant.

I suggest that you clean it up spotless and get to work finding a replacement tenant who will sign a new lease for the unit.

You are leaving at the very worst time to obtain a new tenant. You signed the lease. If you had needed month to month, what you should have done (hind sight) was to move at the end of your lease into a unit that was available month to month. Then you could have legally left with 30 days notice.

Check with your employer. Sometimes they will help with lease breaking fees when they transfer an employee. It's worth asking.
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