Landlord is pestering us to move out early despite lease, because they signed a purchase/sale contract. We finally hired a lawyer just so we could get some peace and quiet. LL Wouldn't agree to any concessions to make leaving early a little easier on us...our hiring a lawyer helped, they finally agreed to 2 weeks free rent so we have time to move (we have a lot of travel plans, plane tickets... [more]
Landlord is pestering us to move out early despite lease, because they signed a purchase/sale contract.
We finally hired a lawyer just so we could get some peace and quiet. LL Wouldn't agree to any concessions to make leaving early a little easier on us...our hiring a lawyer helped, they finally agreed to 2 weeks free rent so we have time to move (we have a lot of travel plans, plane tickets already paid for, etc)
Because of numerous shady behaviors, I want the LL to agree to security deposit as last month's rent in exchange for us moving out early for their benefit. They say no, but are willing to put it in escrow with their atty.
Won't we have to sue them to get our security deposit back if it's escrow? We believe they might leave the USA as soon as house is sold. I'm not sure escrow helps us at all. Thoughts? Thank you.
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Response by fieldschester
over 9 years ago
Posts: 3525
Member since: Jul 2013
Where is the security deposit being held now?
How many weeks and or months are on the existing lease and how many till you have been asked to move out.
That you had to hire a lawyer is already a bad sign. Either you are a jerk - and I don't think that is the case- or they are so unreasonable. In which case you should over protect yourself.
Btw, if they leave the US, which country will they be going to?
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Response by alanhart
over 9 years ago
Posts: 12397
Member since: Feb 2007
Landlords are all parasites.
Sign the petition.
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Response by fieldschester
over 9 years ago
Posts: 3525
Member since: Jul 2013
alan, your guy lost on Tuesday
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Response by 30yrs_RE_20_in_REO
over 9 years ago
Posts: 9877
Member since: Mar 2009
It's interesting that they say they will put it in an escrow account NOW, but all security deposits are supposed to be held in a separate account anyway and not commingled with the landlord's general funds to begin with. And if you just don't pay your last month's rent, what exactly are they going to do about it? Send you a 30 day notice to vacate? They can't even start a holdover proceeding until you actually are a holdover. (NB I am not an attorney and this is not legal advice).
A guy I knew who owned a decent amount of property described many old line landlords as "stuck in the basement". Back when there were a lot of below market rent controlled and rent stabilized apartments you wanted as much turnover as you could get so you could increase rents. But now with most apartments at market rent, many landlords have realized that keeping good tenants makes sense economically and you have a decent number of modern landlords who treat tenants very well. The Related Companies comes to mind as one of them. I remember when they purchased Tribeca Tower @ 105 Duane Street after it failed at a condominium and everyone I placed in there was shocked at how good a landlord they were.
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Response by Flutistic
over 9 years ago
Posts: 516
Member since: Apr 2007
Update: Our atty says for not telling tenants where the security deposit is being held is common. We will probably do escrow (their atty) plus a walk through at the time of deal signing. The LL would have to agree to the condition of the house (in Nassau) at what is midpoint in the lease, then the money would go into escrow. Our atty thinks their atty will just give us the security deposit rather than take any risks as an escrow agent. Our atty is also asking for free rent and cash equal to one month's rent in exchange for our early move out. He had suggested we get broker's fee and moving expenses too. We're going to have to spend a month in an extended stay hotel if we leave early, it turns out, so the LL has got to make it worth it. Thanks to all who weighed in.
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Where is the security deposit being held now?
How many weeks and or months are on the existing lease and how many till you have been asked to move out.
That you had to hire a lawyer is already a bad sign. Either you are a jerk - and I don't think that is the case- or they are so unreasonable. In which case you should over protect yourself.
Btw, if they leave the US, which country will they be going to?
Landlords are all parasites.
Sign the petition.
alan, your guy lost on Tuesday
It's interesting that they say they will put it in an escrow account NOW, but all security deposits are supposed to be held in a separate account anyway and not commingled with the landlord's general funds to begin with. And if you just don't pay your last month's rent, what exactly are they going to do about it? Send you a 30 day notice to vacate? They can't even start a holdover proceeding until you actually are a holdover. (NB I am not an attorney and this is not legal advice).
Landlord / tenant relationships seem always adversarial.
A guy I knew who owned a decent amount of property described many old line landlords as "stuck in the basement". Back when there were a lot of below market rent controlled and rent stabilized apartments you wanted as much turnover as you could get so you could increase rents. But now with most apartments at market rent, many landlords have realized that keeping good tenants makes sense economically and you have a decent number of modern landlords who treat tenants very well. The Related Companies comes to mind as one of them. I remember when they purchased Tribeca Tower @ 105 Duane Street after it failed at a condominium and everyone I placed in there was shocked at how good a landlord they were.
Update: Our atty says for not telling tenants where the security deposit is being held is common. We will probably do escrow (their atty) plus a walk through at the time of deal signing. The LL would have to agree to the condition of the house (in Nassau) at what is midpoint in the lease, then the money would go into escrow. Our atty thinks their atty will just give us the security deposit rather than take any risks as an escrow agent. Our atty is also asking for free rent and cash equal to one month's rent in exchange for our early move out. He had suggested we get broker's fee and moving expenses too. We're going to have to spend a month in an extended stay hotel if we leave early, it turns out, so the LL has got to make it worth it. Thanks to all who weighed in.