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Post Info TOPIC: I've Got Good News and I've Got Bad News...


Kate Spade

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I've Got Good News and I've Got Bad News...
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I'll give the good news first. Hubby and I are in the process of buying a brand new townhouse! Yay! We live in an apartment now, so this is going to be a first for us to actually own something instead of renting! Woo hoo!

Bad news...
We signed up and paid for an option with our apartment complex that will let us out of our lease early without any problems like paying for the apartment until our lease is up. That's good, right? Wrong. They need at least 60 days notice starting with the first of a month. So, we can't even give them notice today, we have to wait until April 1st and then pay for all of April and May, all while paying for a mortgage. The kicker is that I called the apartment place last week as an interested renter to see if there was a wait list for the apartments. It turns out there is a wait list until June for a two bedroom apartment, which is what we have. But when I called today they said we have to give sixty days notice. How much sense does this make? So, hubby and I are going to leave some stuff in the apartment so they can't get in to fix it up. After all we're not just going to give it back to them while still paying on it.

It just sucks becauses it's another $2200 we didn't expect to pay.

Just had to vent. Blech.

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Gucci

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Oh, that sucks about the rent.  Moving is always so expensive, but to add another $2200 on just bites!  But, it will be so worth it when you move into your own home!  Congrats!

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Marc Jacobs

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congrats on your new home! And can you sublet the apartment for short term? My old complex did that - that way it's not empty and you're not paying, and the sublettor can just become the regular renter when the lease is up... The complex shouldn't mind because they get their money and they get out of having a vacancy...

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Kate Spade

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I wish! They don't allow subletting of any sort. If hubby and I found a renter, the apartment complex still has to "approve" them and go through them. It sucks.

But, we're super excited about the townhouse!

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Hermes

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congrats on the townhouse! that sucks about the penalties for breaking the lease early - the terms are pretty standard, I'm sorry to say. I would try to talk to them since they have a waiting list - if you've been a good tenant, you would think they would be nice and try to find solution.  that type of penalty is to cover a possible lapse in rental income - since they wouldn't experience that, it seems only fair that they would wave the penalty. 


can you raise a stink if they don't work with you? contact the property management co.'s home office and be a pain so they'll want you to go away?



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"Fashion can be bought. Style one must possess." ~ Edna Woolman Chase


Kate Spade

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We're going to try to raise a stink if it they don't let us out early. I'm not sure if it will work, but it's worth a shot. We're going to have our real estate lawyer possibly call and give them a little nudge. We're especially annoyed because we paid $500 at the beginning of our last least for an option that would let us out of the lease early. Phooey!

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Hermes

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nunzi182 wrote:


We're especially annoyed because we paid $500 at the beginning of our last least for an option that would let us out of the lease early. Phooey!

what? then why aren't they honoring the agreement?

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"Fashion can be bought. Style one must possess." ~ Edna Woolman Chase


Kate Spade

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detroit wrote:

nunzi182 wrote:
We're especially annoyed because we paid $500 at the beginning of our last least for an option that would let us out of the lease early. Phooey!
what? then why aren't they honoring the agreement?




Because we have to give them 60 days notice starting on the 1st of a month. I was hoping that since there's a waiting list, they would be a bit lenient with this, but they're not. They don't know that I know there is a waiting list, so we're going to try and use this as leverage in the future.

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Hermes

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nunzi182 wrote:


detroit wrote: nunzi182 wrote: We're especially annoyed because we paid $500 at the beginning of our last least for an option that would let us out of the lease early. Phooey! what? then why aren't they honoring the agreement? Because we have to give them 60 days notice starting on the 1st of a month. I was hoping that since there's a waiting list, they would be a bit lenient with this, but they're not. They don't know that I know there is a waiting list, so we're going to try and use this as leverage in the future.


oh - that's the lease breaker option you paid more for? that's typically a standard clause in a lease - I'm surprised they're charging you for that... well, that sucks.


sicking your RE atty. on them and making a stink sounds like the best option... you may be screwed, but you have nothing to lose.



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"Fashion can be bought. Style one must possess." ~ Edna Woolman Chase


Hermes

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well, that sucks, but congrats anyway! The same thing happened to a friend of mine. The good news is that you'll have plenty of time to move -- you can paint your new house, etc without worrying about where to put your stuff.

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"We live in an age where unnecessary things are our only necessities." --Oscar Wilde
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