Apartment lease contract ...

[hergehen]

Hello,

I found a very good apartment deal , but it requires to sign a 12 months lease contract... I'm not absolutely sure about my financial situation for next year, so if I break that contract, they just won't return my deposit ? anything else ? anything could happen to my credit history ?

Thanks.

 

[ElFenix]

you'd have to read the lease agreement

 

[minendo]

You will have a hell of a time trying to find housing if you break the contract.

 

[Kelemvor]

And they could charge you for the remainder of the lease if you don't find someone to take it over since you are guaranteeing them 12 months of income.

Talk to an attorney. That's what they are there for.

 

[IEatChildren]

hehe over here, if you break a lease, there's nothing they can do about it. The only thing is that you can't use that person as a reference anymore. And that's generally not a very big deal. You can just have one of your friends pretend he was your landlord.

 

[shopbruin]

Originally posted by: ElFenix
you'd have to read the lease agreement

yup.

mine says i lose my security deposit at the very least.

the most i'd pay is another month's rent, unless they find a renter within a month of me breaking the lease.

 

[Orsorum]

I believe you're at least required to find someone to take it over to completion; you will probably forfeit some of your security deposit as well.

 

[MysticLlama]

Be VERY careful about breaking a lease.

I was actually let out of a lease, in writing, but it was by someone who didn't have the proper authority to do it (I find out later)

Also, the apartments were sold to another company, all the employees turned over, etc. (also found this out later)

I found all this out when about a year or more after moving out I tried to get some credit and found out that there was $8000+ charged to me that I never knew anything about, no letter, no knock on the door, nothing.

Since the company has turned over and everything I've been having a terrible time getting it straightened up, it's now going on 3 years that I've been working on it.

A large chargeoff like that on your credit when you don't have tons of good stuff to counteract it absolutely KILLS your score, and if it gets really crazy and you can't get rid of it, it will take 7 years to come off.

Be sure you read the fine print VERY carefully if you're worried you may have to break the lease.

 

[kyparrish]

yes, BE CAREFUL!! read EVERYTHING on your lease