Friday, August 20, 2010

What can I do to break my lease without getting sued for the remainer of the rent?

I leased a loft in September of 2006 because I just broke up with my fiance and I needed a place to live. I was going to buy a place but my trusty mortgage broker was no help. I had the money for this place at the time but my situation has changed and I can barely pay the rent every month. I got approved for a loan and the payment is 1/2 of what I am paying in rent every month. My question is: How can I get out of this lease without having to pay the remainder of the rent until October? I heard from someone that there is a law in MO that a lessor has to let you out of a lease if you buy a home....I don't know if this is true or not. Does anyone know?What can I do to break my lease without getting sued for the remainer of the rent?
First, check your lease for out clauses. Was the landlord negligent or was there a clause which indicates that you only have to pay one months rent to get out of the lease? If not, you can try negotiating with the landlord. If he is able to re-lease it quickly, he may give you a break, even though he doesn't have to. Let him know your situation and if you are truly buying a house, throw that in as well (but don't lie - he could find out and sue you). A landlord would rather negotiate an out and look for another tenant that is able to pay rather than risk letting you stay there and run the risk of missing payments because you skipped town or went bankrupt.What can I do to break my lease without getting sued for the remainer of the rent?
No, there's no law like that-- it would screw over a lot of landlords that depend on rent.





Most of the time you can get out of leases with giving up your deposit and paying an extra months' rent.





By law, your landlord is required to try and re-rent the property to minimize your losses, if you cant just forfeit the deposit. If he's able to rent it within a month of you moving out, you're only liable for that month's rent.
Just because you buy a home doesn't mean your landlord has to cancel the lease, unless you are a member of the military moving under government orders.





What is the local rental situation in your community? If the landlord could rent out your loft today, could he charge a higher rent? If so, the landlord may be willing to cancel the lease (be sure to get it in writing).





Someone else mentioned subletting, but that requires the landlord's approval AND you are still obligated for the lease, including any damages by your tenant.
There is absolutely no clause anywhere that says you can break a lease to buy a house.





What you can do to TRY and get out of the lease is to run advertisements and show your own unit and find them a suitable replacement tenant. You might have to pay for lost rent between your move out and their move in--don't sublease, just have the new tenant do a new lease with the landlord. It is not their problem, it's your problem, but if you find someone and it's barely any extra work for them and you aren't a pain in their butt, they might let you out of your lease.
Hmm. . .I've never heard of such a law, but I am not from MO, so it's possible. . . .Maybe bring your lease contract to a lawyer and tell him the situation. . .Or of course try to negotiate with the landlords. Maybe if you can find someone to lease in your place then it wouldn't matter? Sorry I couldn't be more help.
Try subleasing it to someone ..they can take over your lease.
It doesn't hold true in California, but, maybe in MO. Just give a call to your local Board of Realtors. They should be able to answer the question in a heartbeat.

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