Nicks Girl Posted February 2, 2005 Group: Diamond Member Followers: 1 Topic Count: 30 Topics Per Day: 0.00 Content Count: 669 Content Per Day: 0.09 Reputation: 7 Days Won: 0 Joined: 10/26/2003 Status: Offline Birthday: 09/04/1986 Share Posted February 2, 2005 Hi Everyone, I kinda had a question, and was wondering what you all think about it. I've had mixed answers from people, and online searches haven't yielded much help. My question is this. If you have a 1-year lease, is it terrible to break the lease halfway through it? Even if you could give a 3 months in advance notice? (to give the landlord time to refill the apartment?) Does anyone know how this would affect your credit? My husband and I have a 1 year lease where we are living, and we have been talking about breaking it and moving(family issues) in 3 months. He seems to think it's the end of the world if we break our lease. I know it's not an ideal thing to do, but I don't think it will affect us that negatively. Where we'll be moving to potentially are other apartments owned by my parents. Also, it will be across the country from where we are living now. I know many people (as do my parents) in the area we will be living in, and I can't imagine coming across any problem finding housing. So, in the long-run if we otherwise always pay our bills on time (usually early) in several years this isn't going to affect us much will it? My husband's worried that if we ever try to get a loan, or buy or build a house it could affect us negatively. I don't see us doing any of that for at LEAST 5 years, even if we could afford it, we're not ready to be home owners. In the meantime we're not going to be homeless or anything. The area that we will be living in (where I grew up) isn't a fancy area, and most apt. owners do a month by month type of arrangement, so you dont' sign a lease anyways. Also, I think it will still look good that we've always paid our rent early and gave this landlord a 3-month notice that we are breaking our lease. Just wondering what you all think of the situation. Thanks. Link to comment Share on other sites More sharing options...
his Posted February 2, 2005 Group: Junior Member Followers: 1 Topic Count: 0 Topics Per Day: 0 Content Count: 93 Content Per Day: 0.01 Reputation: 0 Days Won: 0 Joined: 08/31/2004 Status: Offline Birthday: 11/25/1983 Share Posted February 2, 2005 Hey Deidre~ I do not know much about breaking leases and credit, but I would suggest speaking to your landlord. I would think that ultimately it is up to him on weather he would be okay with you breaking the lease. Many people do not report to credit bureaus. He could be an okay guy and be fine with you leaving earlier than expected...expecially with and three month notice and the excuse of a new baby on the way. While not condoning lease/aggrement breaking...my former husband had around thirty thousand dollars in debt (mostly due to a home bought and disguarded) during his younger single days he lived in many apartment complexes and broke most leases..if not all. I will admit that having had the opportunity to see both of our credit reports, I did not see anything at all referring to the broken leases or the apartments in any way. I MUST say, you are very blessed to have such a responsible husband that cares about your credit...that is very important and the majority of younger people do NOT take care of their credit as they should. I pray for the best...please keep us posted...Rejoice in your many blessings!!! I hope I have been of SOME help if any... GOD BLESS YOU AND YOUR FAMILY, HIS Link to comment Share on other sites More sharing options...
tsth Posted February 2, 2005 Group: Royal Member Followers: 2 Topic Count: 297 Topics Per Day: 0.04 Content Count: 5,586 Content Per Day: 0.69 Reputation: 193 Days Won: 1 Joined: 04/09/2002 Status: Offline Share Posted February 2, 2005 I agree with his's advice above. I would go to the landlord and discuss with him. Here is the hard part though, as a Christian, you have an obligation to uphold your word to him, that IS your testimony as a Christian! If he has a problem with it being broken, you must testify to the fact that you are a Christian, and that you will be good on your word, and not mistreat him. Do not forget, you are an Ambassador for Christ, and you must shine as a light in a dark place. In His Love, Suzanne Link to comment Share on other sites More sharing options...
Ovedya Posted February 2, 2005 Group: Royal Member Followers: 3 Topic Count: 375 Topics Per Day: 0.05 Content Count: 11,400 Content Per Day: 1.44 Reputation: 125 Days Won: 0 Joined: 08/30/2002 Status: Offline Birthday: 08/14/1971 Share Posted February 2, 2005 The first thing you need to do is get out a copy of your lease agreement. Most standard lease agreements impose penalties for breaking the contract early. They can range anywhere from your having to pay the remainder of the lease, half the remaining balance, or just one extra month. Some lease contracts also may include special provisions or circumstances for quitting early. So get out your agreement and read it, so you know what to expect when you......talk to your property manager. You absolutely must have a sit-down with your property manager. It is possible that you can negotiate the terms of quitting the lease early. But make sure that whatever terms you come to, that it's written down exactly as agreed, and that it's signed by all parties involved. It sounds to me like you're giving your property manager plenty of time to lease the apartment, and that could be a good factor in your negotiating the end of your contract. It could be that since you're giving them more than the required 30 day notice, they will be willing to knock off a couple hundred dollars from the early termination penalties. See what you can negotiate with them. In my experience most property managers can be bargained with. Link to comment Share on other sites More sharing options...
his Posted February 3, 2005 Group: Junior Member Followers: 1 Topic Count: 0 Topics Per Day: 0 Content Count: 93 Content Per Day: 0.01 Reputation: 0 Days Won: 0 Joined: 08/31/2004 Status: Offline Birthday: 11/25/1983 Share Posted February 3, 2005 Hey...I am slightly embarassed that it didn't occur to me to write that...TSTH aka Suzanne is RIGHT!!!!!!!!! That is SO important. That would absolutely be such an awesome opportunity to witness! I am so full of joy right now just imagining the possibility. SO, I am absolutely in agreement with Suzanne...be true to your word and let that light shine!!!!!!!!!!! Link to comment Share on other sites More sharing options...
Guest Thomas I believe Posted February 3, 2005 Share Posted February 3, 2005 I am an asset property manager and i am on the other side of this. Ask if theres a way to buy out of lease. Many landlords have a buyout clause, sometimes its not listed. If you break a lease it can affect your credit, but usually only evictions will impact your credit. Just my tip and 2 cents worth... Link to comment Share on other sites More sharing options...
Nicks Girl Posted February 3, 2005 Group: Diamond Member Followers: 1 Topic Count: 30 Topics Per Day: 0.00 Content Count: 669 Content Per Day: 0.09 Reputation: 7 Days Won: 0 Joined: 10/26/2003 Status: Offline Birthday: 09/04/1986 Author Share Posted February 3, 2005 Thanks everyone for your advice. We're still unsure of what we'll do, but you all helped alot! Thanks! Link to comment Share on other sites More sharing options...
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