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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
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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
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Author: stephsk8r Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 167 of 182
Subject: Re: Breaking a lease Date: 10/23/2002 9:45 AM
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We have been here for 3 months and we might have to move out because of a job relocation.

I once had a lease that allowed you to break it without a penalty if you were transferred or got a new job more than 50 miles away. Is there a clause like that in your original lease?

stephsk8r

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Author: catscanner Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 168 of 182
Subject: Re: Breaking a lease Date: 2/9/2003 4:26 PM
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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.

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The lease is a contract. You agreed to the conditions when you signed it. It's unfortunate that they are so stringent, but, It looks like you will have to pay at least the $1500, the $600 "incentive" and future rent while the place it on the market.

The landlord has to make a good faith effort to rent the place after you move. They can't just sit around and not attempt to rent it, otherwise you would have some recourse as far as withholding those rental amounts. But, don't withhold anything initially.

Perhaps I could attempt to get them to let me sublet the place?

Once again, refer to your lease. It probably has a clause about subletting.

Good luck. Have you talked to the landlord about these clauses and what you can do to have them mitigated?

cat (a landlord)

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