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negoiating out of a lease
my DH and i currently have an offer in on a short sale. We are happy we may have a wait a bit because our current lease is not up until March 30, 2013. In a best case scenario (and i know this scenario for a short sale will play 100 ways that don't include best case), we hear back in 60 days (which is what the realtor said the current turn around time for hte bank we are working with is)... that brings us to early decemeber, we have 10 days for inspection an additional 21 days to secure the loan and a 30 day closing. We are willing to let the current tenants rent from us if they want to stay a bit longer. This basically puts us into the house in the end of January, meaning we would have ot pay both the mortagage and rent for one month (March-- since we didn't oay first and last at move in and we don't pay the mortgage in february)... This would be ideal.
OF COURSE it could take over 6 months or more to hear back on the short sale, or we could hear back tomorrow...the owners could not want to rent, etc...all things that "could" happen.
Taking our best case scenario into consideration, OR the fact that the bank could come back earlier means that there could be a considerable amount of time we are paying both a mortgage and rent.
We want to try to "Get out" of our current lease around the time we want to move into our home. (If its not tis short sale, it might be another that we find at some point)...i am wonderinf if anyone has been successful in breaking their lease witout penalty?
Our current lease states that if we move out we must pay either 2 months Or until someone else rents it (we have the choice.) There is a good chance our unit will be rented before the 2 months is up, since its a unique layout offering more space in the building and in its private hallway...
but our building has been "slipping" since we moved in. When we first moved in it was right before the historic flooding around here. Thebasement flooded and the entire back patio did. They purchased all new back patio furntire and grills and had a diaster relief team come in to clear out the water andalso prepare for avoiding mold. Because of all the moisture the carpets in our hallway buckled up. These have yet to be replaced. They also started repainting our hallways..but never finsiehd so the walls are all painting 3 different colors. When we moved in there used to be "resident" parties all the time that included open bar and a DJ or band for holidays and the summer. Now its a thing of hot dogs a boom box and potato chips... i mean if my rent was going towards parties with caterers and bands--a nd now I am paying for potato chiips-- shouln't i be paying less?
Also all thatnice new lawn furniture etc is breaking, falling apart and not maintained, The grills are never cleaned and we had to purchase our own propane to even use the grills!
I am concenred that there is mold under the rug that has rbuckled up and a considerable amount of apartments in the building are being treated for lead paint (leaving these residents out of their home for 2-3 weeks at a time). I believe that we ahve both mold and lead paint in our building (though, we signed a waiver about the paint when we moved in since the building was built in 1760).
Do you think that we have reasoning to legally say that we want to break our lease because the management and the upkeep of the property has significantly declined?
Re: negoiating out of a lease
I know I am just trying to think proactively. I realize it can take months and months, but if we need to get out early I want to be fully prepared and have all my ducks in a row.
Also, I don't live in a building with a landlord, we have agents that are part of a bigger residental property management company. Actually, they own over 4,000 residental properties over the US so its HUGE company.... so trying to sweet talk my way out isn't really going to work. As the manager often says her hands are tied and the rules are the rules.
But overall, is a signifcant decline in the upkeep of the complex a reason we'd be able to get out of a lease? in general?
soryr i just saw this. subletting is not an option. It is against our lease terms and the penalty is payin the remainder on your lease terms and a $5,000 fine
I know for a fact there is lead since there is a diaster relief team on the property working on a "lead project" at this time, they are currently sealing the ceilings so that the lead paint that is caked between ceiling boards (I live in a mill) doesn't fall. From what I understand only the tennats who have requested that their entire apartment be extracted of lead are those who have had to evacuate for 2-3 weeks. For example , the apt behinf us they have a 2 year old and wanted it removed. But as I mentioned we signed a "lead" waiver when we moved in, so there really isn't any pull there. Believe me tis is a huge corporation that has crossed their T's and dotted their i's.
Also, month to month is not an option. Our current lease term was 15 months and our rent was 1400.00 a month. If we go month to month (which would only be an option when our 15 month term is up in March...) the rent goes up to $2300 a month..... obvisously the more months you sign the less expensive it is. ANyway- we don't want ot be there past our lease term...so month to month isn't an option- we would just move into my parents house or find another place hat allowed us to go month to month.
Do you think its posisble to renegoiate the lease to shorter terms- ie month to month even tought I already signed it? If we knew we were going to be getting a home and i renegoiated, we'd only have to pay 2300 for one month, vs 2800 for two months or until it is rented... its not a huge difference, but its something
I am not commenting on the upkeep items because it sounds like the issue isn't that you want to move because of this but that you want a house.
As a landlord, people like you are so frustrating. You legally agreed to the lease. Why should the landlord be penalized because you changed your mind about fulfilling the obligation??? At least be glad you have an early termination option. Suck it up.