Here in CA the housing prices have dropped to the point were homes are affordable. Because of this, my fiance and I decided to look into buying our first home. We had anticipated the process taking several months so we starting looking recently and talking to a mortgage broker. Low and behold it all moved very quickly – we were approved for our mortgage and found our dream home!!
One problem – we have a rental agreement that does not expire until August 1, 2009.
What are our options? We don’t want to pass up an opportunity to own our dream home, but the $3k penalty for breaking our lease is an amount we cannot afford at the same time as a home down payment.
Any advice?
Additional information: we are not looking to stiff the landlord. I am trying to find suggestions that I can present to my landlord to help remedy the situation in such a way that we both end up happy.
We’ve been in this complex for almost five years. We wouldn’t just up and walk away.
After reading the answers to your question I really do not see any one of them as a real answer to your question. Your inquiry is "How to break a Lease…" Here are a few ideas that have worked for people and myself in one instance in the past: 1. Transfer in work location. this is a very good reason for breaking a lease as the landlord sees that you had no direct cause for breaking your lease. Your job took you to another city or state and thus, you needed to move. The bad on this is the landlord might tell you to have your employer pay the penalty although I have not had this experience. Presentation is key when using this excuse. 2. Loss of employment. Think about this for a second. What landlord wants a out-of-work renter in his house? If you tell him that you lost your job and have no means of making the month to month payments, he would probably be happy that you informed him of the problem and want you to move just as soon as possible in order not to go through the timely eviction process. 3. A death in your family that will mean your need to move to another area in order to take care of the person or persons left that need 24/7 care. Although this is a sympathy excuse, many landlords will see that you are just doing what you need to do as a good member of the family and perhaps have pity on your situation and forgo the penalty. Now, I am not in any way recommending you to be anything but truthful to your landlord. However, you asked point blank reasons for breaking a lease and I have just stated what I have heard that has worked for some in past experiences. I do believe that your tenure at the residence will hold some value as being a good tenant and perhaps that alone will buy you some credibility. Remember, security deposits and lease agreements were and remain intended for the "house jumper". The guy that every one to two months just picks up and leaves without any real cause and the landlord is left without income or any real recourse to make up the money lost during the re-rental phase. Good luck!
The penalty fee is there for a reason and should have been thought about before you decided to purchase a home. Finding and buying your "dream home" is not a legal reason to get out of your lease without monetary fees.
Your only option is to beg the landlord to let you out of the lease without paying the fee…but I seriously doubt he/she will do so.
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You have to look at your lease for your "options". Since no one here knows what YOU signed, we cannot tell you what YOUR options are. I know that when I broke my lease last year (Also in CA), we had to pay a one-month rent penalty plus we had to pay back the $1,000 move-in special that we got when we moved in. So by moving out, it cost us $2,600.
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It is good you are moving up–but at the same time you signed a binding contract with your Landlord. You have no choice but to talk it out with him—and can only break the Lease under his terms–feel him out a bit–maybe he can re-rent fast and keep your penalty to a minimum. As a Landlord –I would be happy if you told me in advance of your intentions–so we could work out a deal–but would be pissed if you put this out their at the last minute-and seek the full amount. Your lack of prior planning and communication with your Landlord is your problem-not his. He has bills to pay too–and counted on his contract with you to be fullfilled. EDIT–the only options are the ones he offers–not the ones you think are good. This is his ballgame–breaking your Lease for buying a home is not a legal reason to force him to take a loss—I am sorry to seem coarse–but I am a Landlord and this is the way I feel. All you had to do was say–before you re-newed your Lease-we are thinking about buying a house—an agreement could have been stipulated into your Lease at that point and everyone would have been happy.Just cause youve been their for 5 years–doesnt mean he needs to kiss your ass now—that is your job.
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Landlord
I don’t know where you get the $3000 penalty. The landlord can charge you only for the months that the premises is empty up to July 31. If your rent is $1000 a month you could possibly be liable for up to $5000 for five months rent or as little as just a few weeks depending on when a new tenant moves in.
The landlord must diligently try to re-rent the premises.
A far as breaking the lease about the only reason that would stand up in court as a defense would be if the premises became "uninhabitable" (no hot and cold running water, broken heater, non-working toilet, etc) or if there was a serious nuisance that effected your "quiet enjoyment". These defects must be serious and substantial.
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Buying a house is not grounds to break your lease. I suggest talking to the landlord to ask if he/she will let you out of it.
References :
After reading the answers to your question I really do not see any one of them as a real answer to your question. Your inquiry is "How to break a Lease…" Here are a few ideas that have worked for people and myself in one instance in the past: 1. Transfer in work location. this is a very good reason for breaking a lease as the landlord sees that you had no direct cause for breaking your lease. Your job took you to another city or state and thus, you needed to move. The bad on this is the landlord might tell you to have your employer pay the penalty although I have not had this experience. Presentation is key when using this excuse. 2. Loss of employment. Think about this for a second. What landlord wants a out-of-work renter in his house? If you tell him that you lost your job and have no means of making the month to month payments, he would probably be happy that you informed him of the problem and want you to move just as soon as possible in order not to go through the timely eviction process. 3. A death in your family that will mean your need to move to another area in order to take care of the person or persons left that need 24/7 care. Although this is a sympathy excuse, many landlords will see that you are just doing what you need to do as a good member of the family and perhaps have pity on your situation and forgo the penalty. Now, I am not in any way recommending you to be anything but truthful to your landlord. However, you asked point blank reasons for breaking a lease and I have just stated what I have heard that has worked for some in past experiences. I do believe that your tenure at the residence will hold some value as being a good tenant and perhaps that alone will buy you some credibility. Remember, security deposits and lease agreements were and remain intended for the "house jumper". The guy that every one to two months just picks up and leaves without any real cause and the landlord is left without income or any real recourse to make up the money lost during the re-rental phase. Good luck!
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