Breaking Lease - Release Fee
Started by Michelle777
over 11 years ago
Posts: 5
Member since: Mar 2014
Discussion about
We just bought a place, and need to break our lease with Glenwood (about 2.5 months early) and they are charging us a 1 month "release fee" to do so. This isn't a bad deal, but it's a great apartment in Tribeca and I expect that they'll manage to rerent it in a couple of weeks (probably for several hundred more dollars a month than what we are paying based on recent rentals) since things are typically snatched up in our building. I'm being told that if they do manage to do so, they don't have to refund us the difference - is this correct?
That's correct unless they agree otherwise -- the baseline is that you owe them for the whole rest of your lease, and any alternative arrangement is an amendment to the lease contract. Basically like a negotiated settlement. If you can negotiate better terms, go for it, but it does not appear you have any real leverage. Just be sure to get the cancellation in writing.
1. uptown is right
2. glenwood doesn't have to release you from your lease
3. but from what I have heard it is its standard policy
Just AirBNB it.
You think you're witty, don't you? Not.
Hi Aboutready, how was your vacation?
Fantastic, as always. How is your dreary basement -in-mother's-home existence?
Michelle, I don't think that's a bad deal at all in this environment.
Hi aboutready, why don't you come downstairs and answer your own question
If it takes them longer than a month to replace you will you reimburse them? It's a fair deal.