Lease Opt-out (by Mike S. [KY]) Jun 14, 2009 10:11 AM|
Lease Opt-out (by J [IN]) Jun 14, 2009 11:26 AM
Lease Opt-out (by MrRational [MD]) Jun 14, 2009 11:31 AM
Lease Opt-out (by Nancy [IN]) Jun 14, 2009 7:47 PM
Lease Opt-out (by Mike S. [KY]) Posted on: Jun 14, 2009 10:11 AM
State Specific Question About: KENTUCKY (KY)
Hey there everyone! My dad swears by this site, as a landlord in Ohio, so I figured I would give it a try here for this question.
So I live in Lexington, KY and I just signed a one year lease in an apartment for $510/month, and it is about 600 sq ft. However, at the office that I rent each month, there are loft apartments above the commercial space and I was helping a lady move in when I asked her the sq ft and rent for her flat. She said it was 1100 sq ft and only $500 per month. I am shocked, and the place is super nice, so I am thinking about backing out of my other lease in order to move into this place.
I of course have poured over my lease, and I can't seem to find the clause that tells me how much it would cost me to back out of my current lease. My dad said in Ohio it is usually 2 months rent.
Does anyone know how much I would have to pay in KY? Because the one bedroom next to this lady is not taken and I don't think I can pass this opportunity up!! --139.55.xx.xxx
Lease Opt-out (by J [IN]) Posted on: Jun 14, 2009 11:26 AM
You committed to 1 year. You pay the rent till they get the unit re rented. --71.115.x.xx
Lease Opt-out (by MrRational [MD]) Posted on: Jun 14, 2009 11:31 AM
As J pointed out you have a contract that obliges you to pay rent for one year but your haven't signed yourself into slavery either.
Things happen. Life changes. Talk to your LL.
It doesn't have to be nasty and acrimonious but don't expect to have the news met with a smile.
Try to sweeten the deal by finding someone (appropriate and responsible) to replace you.
Lease Opt-out (by Nancy [IN]) Posted on: Jun 14, 2009 7:47 PM
You signed an agreement. What if the landlord met someone the day after you signed the Lease that he liked better? Should he just be able to breach his legal obligation to you with no consequences and let the other person in?
That's what you are asking for. You are now asking to be released from the bargain that you struck and the legal obligation you undertook.
There is no "standard" Lease break fee unless the LL writes one in or state law establishes one. Here, you'd be on the hook until the place re-rented, for the rent and all associated expenses (electricity, gas, water, and any advertising costs). Each and every month you would be obligated to pay rent until another qualified applicant came along. --65.55.xx.xxx