Terminating the lease...?

Question

due to some financial problems i can not afford living in my own place so i am planning to move to my parents house for a year.I want to ask my landlord if she let me terminate the lease and move out.you think she will accept it?do i have to pay a penaly or pay the rent of a moth?

it ever happened to you?

Answer 1

if the lease does not have an early out feature, you are "stuck."

if the landlord offers you one, fine but I suggest you not

ask at this time.

Instead, find a replacement tenant that you can rent your

unit to so that you become that person's landlord during the remainder

of YOUR lease.

if you find one, do NOT send that person to the landlord to

fill out a lease!  YOU give them whatever you want to

and you collect the lease monthly payment.

Answer 2

The landlord does not have to let you out of the lease without it costing you $$$.

You have three choices in this situation:

1. Offer to pay to advertise the rental. Offer to have the rental in show worthy condition and allow showings as often as needed in order to get a replacement tenant. Offer to stay until the replacement tenant can move in. This way, the landlord suffers no loss of rent, you are not paying for a place in which you do not live and all you are out is the advertising costs. Your credit and rental histories will not be affected.

2. Negotiate a lease buyout with the landlord. Start by offering the amount equal to 2 months rent. The landlord may require another month. If you come to an agreement, get it in writing. This way your liabilities end with the lump sum payment. Your rental and credit histories will not be affected.

3. Move out without any agreement. The landlord can hold you liable for the rent until either the lease expires or a replacement tenant is found. The landlord can hold you liable for any costs he incurs due to your breach, such as advertising costs, agent fees, etc.

If you do not pay the amounts above, the landlord can sue you. The judgment will include not only the costs mentioned, but court costs and accrued interest until the judgment is paid.

Your rental and credit histories will be ruined. The judgment can be renewed for up to 20 years and the landlord can garnish wages or bank accounts, place liens on (future) personal property, etc.

Future landlords will deny renting to you due to the unpaid judgment. Many employers check credit, so you can be scrutinized for having the open judgment against you. Insurance companies and other creditors pull credit and adjust your rates dependant on your credit, so you will be paying higher rates for many years.

You cannot sublet unless the landlord gives you permission to do so.

Subletting can be a bad idea, because you are essentially the subtenants landlord and remain liable to your landlord for the entire lease term. If your subtenant fails to pay rent, damage the place or default in some other way, you are responsible to evict them. You are still responsible to pay your landlord any rent or damages owed. You then have to sue your subtenant to collect from them.

Answer 3

In this case you negotiate. Expect to pay a couple months rent as penalty.