Skip Navigation
StreetEasy Logo

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?
Response by uptown_joe
over 11 years ago
Posts: 293
Member since: Dec 2011

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.

Ignored comment. Unhide
Response by rb345
over 11 years ago
Posts: 1273
Member since: Jun 2009

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

Ignored comment. Unhide
Response by gothamsboro
over 11 years ago
Posts: 536
Member since: Sep 2013

Just AirBNB it.

Ignored comment. Unhide
Response by aboutready
over 11 years ago
Posts: 16354
Member since: Oct 2007

You think you're witty, don't you? Not.

Ignored comment. Unhide
Response by gothamsboro
over 11 years ago
Posts: 536
Member since: Sep 2013

Hi Aboutready, how was your vacation?

Ignored comment. Unhide
Response by aboutready
over 11 years ago
Posts: 16354
Member since: Oct 2007

Fantastic, as always. How is your dreary basement -in-mother's-home existence?

Ignored comment. Unhide
Response by aboutready
over 11 years ago
Posts: 16354
Member since: Oct 2007

Michelle, I don't think that's a bad deal at all in this environment.

Ignored comment. Unhide
Response by gothamsboro
over 11 years ago
Posts: 536
Member since: Sep 2013

Hi aboutready, why don't you come downstairs and answer your own question

Ignored comment. Unhide
Response by sohoman
over 11 years ago
Posts: 76
Member since: Mar 2013

If it takes them longer than a month to replace you will you reimburse them? It's a fair deal.

Ignored comment. Unhide

Add Your Comment