Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: stan002 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 182  
Subject: Breaking a lease Date: 10/22/2002 4:26 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
My lease contract stipulates a $1500 lease breaking fee, plus return of all rent incentives. The "market rate" rent on the apartment is $990 per month, but we have been getting a $200 incentive per month making the rent $790. The whole "market rate" thing seems like baloney to me - if the market could support a rent of $990, then they wouldn't have had to add "incentives" to get the place rented out!

But anyways - We have been here for 3 months and we might have to move out because of a job relocation. Is there some law in washington state that restricts their lease breaking fees to the costs of restoring the apartment to a showable state, plus lost rent until someone new moves in? Are they required to offer the place for the $790 they are renting it to me at? I am sure that the place could be rented out in less than a month, as it is very close to a major employer. Perhaps I could attempt to get them to let me sublet the place? Any other ideas on how to minimize this fee, which is far more than the actual cost of us moving out early?

thanks
steve
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Economic Implications of Cuba
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement