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Question for my brother regarding an apartment lease
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fakename4now
LIF Zygote
Member since 12/11 1 total post
Name:
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Question for my brother regarding an apartment lease
I am a regular posting in hiding because my brother is in a bit of a sticky situation, and I'm trying to get some answers for him.
He signed a 2 year lease last February for his apartment in a complex located in Nassau. He says he's been paying rent on time every month, but was laid off last week from his job. He has just enough in savings for next month's rent, but doesn't think he'll be able to afford his apartment after January. He is planning on moving in with our sister and BIL, but still has another year and 1 month left on his lease. He came to me with the contract, trying to see what the repercussions would be if he terminated his lease early, but I can't seem to find any information about that for him.
From doing some research online, I found that the property owners of his complex have the right to keep his security deposit, but I can't get a clear answer on whether or not they will charge him for the remaining time on his lease. If that is true, then he will owe over $23,000  .
I'm hoping you amazing posters on here will be able to shed some light on this for me. 
Message edited 12/28/2011 9:42:30 PM.
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Posted 12/28/11 9:42 PM  |
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marieSand
Hello LIF!!!
Member since 8/10 1224 total posts
Name:
marie
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Re: Question for my brother regarding an apartment lease
my friend had a similar situation . . . . my guess is that it depends on the complex. In her situation, they kept her security deposit and made her pay monthly until the apt was rented. Good luck to your brother.
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| Posted 12/28/11 9:56 PM |
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cateyemm
Twins!
Member since 7/10 8027 total posts
Name:
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Re: Question for my brother regarding an apartment lease
Posted by marieSand
they made her pay monthly until the apt was rented.
that's been my experience when working with landlords as well (although they don't always keep the security). the earlier he lets them know the better chance he has of getting it rented up asap.
some LLs dont really have a problem with breaking the lease, they just keep the security and let you break it. it really depends on the LL.
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| Posted 12/28/11 11:45 PM |
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KarenK122
The Journey is the Destination
Member since 5/05 4431 total posts
Name:
Karen
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Re: Question for my brother regarding an apartment lease
Definately have him talk to the property manager. Years ago we had to leave our lease early (about 9 months) and the management office gave us some options on breaking the lease. Pay a lump sum and lose security (I think it was 2 months) or pay per month until it was rented or sublet it but pay an extra $50 a month to do that. We just paid the lump sum because we didn't want to get stuck for the entire time incase we didn't find a tenant.
They will work out something with him because they don't want him staying there and not paying rent. It's a pain in the butt to get someone evicted.
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| Posted 12/29/11 12:01 AM |
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