Hoping someone in the leasing business can answer for me - signed a 6 month lease renewal recently on a NW Austin apt to get a good rate(new lease doesn't take effect until early February 2009). Now some things have changed and I want to cancel and go month to month - I'm assuming I'm not liable for the new lease since I signed only a week ago and the lease won't renew for at least 50 days. Before I go negotiate would like some opinions. Thanks
I don't know for sure, but I think they can hold you to that. If they're cool, they could let you go I guess.
exactly. i always love how people think they should be able to walk away from a lease at any time. But if the apartment had come to you and said "yeah, uh, we're canceling your lease and we are going month-to-month", you would have a **** fit about how you have rights, and they agreed to it. Don't sign contracts you don't plan on fulfilling.
These guys are being a bit abrupt, but hopefully lesson learned. You gotta think things through. I assume you're young, so no worries. If the apt people are cool, they could try to lease it, they have the time. But, if they're at 85% occupancy, I would doubt they do it regardless. You'll have to sublease it maybe.
i'm a leasing consultant... as ramathorn said, if the apt is occupied under 90%, some cases 95%, then chances are unfavorable. with that said, my office wouldn't hold you to it and allow you to go month to month. you'll be charged the market rent plus a month to month fee and we'll still require you to give a 60 day notice to vacate. what community are you at? if it is one that we manage i'll see if i can call in a favor. shoot me a PM.
goo, when I first read your post, I thought your apartment's actions was noble, and it is, but you would basically make them pay 3 months rent, right? Still, likely better what most places would do. What apt complex you work at?
Thanks for the replies - they actually just let me move from a 6 month to a 3 month lease which was perfect and kept the monthly rate the same. Probably because I resigned the 6 month lease renewal (which starts in Feb) very early on (early December)
ram, after his lease is up and he is no longer in contract, but still living in the apartment, he has to pay the market rent plus a MTM fee if he decides he does not want to be in a contract. at a minimum, it would pay for two months. if that is the case, he would've turned in his 60 day NTV on the last day of his lease ending date. austinhorn, glad they were able to do that for you. we were doing that for people whose lease ended at the end of dec, because the previous mgmt scheduled too many move outs. nothing like going from 95% to 89% in the matter of one day. the owners were not happy.
