Search found 3 matches

by throwaway1111
Wed Oct 22, 2014 11:23 pm
Forum: Personal Finance (Not Investing)
Topic: [Best Option for Early Termination] of Apartment Lease
Replies: 21
Views: 3150

Re: [Best Option for Early Termination] of Apartment Lease

The apartment office would do a history check, credit-approval and employment check when they add the new tenant to the lease. So its not like I can pick up a random person from craigslist and add them to the contract. So the new tenant would be equally responsible too, legally speaking.
by throwaway1111
Wed Oct 22, 2014 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: [Best Option for Early Termination] of Apartment Lease
Replies: 21
Views: 3150

Re: [Best Option for Early Termination] of Apartment Lease

I've had over 15 people contact me about the craigslist post in 3 days. Finding the right person to take over is definitely a challenge. The apartment office does a background check, credit approval etc. But still, most people that contact me are either out of work or won't have a place to live soon or have some sort of problem. Hard to get lucky there.

Will see how it goes.
by throwaway1111
Tue Oct 21, 2014 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: [Best Option for Early Termination] of Apartment Lease
Replies: 21
Views: 3150

[Best Option for Early Termination] of Apartment Lease

I am 8 months into a 13 months apartment lease, which ends on March 2015. But I am closing on a house soon and need to terminate the lease. Rent per month rent is $745. Electricity and water is paid separately. I looked at the contract for termination clause, and also talked to the apartment office. The options I was given for moving out early are: 1. Pay a termination fee of $2400 (more than 3 months of rent). I will be free to go and the office will then be free to rent it out. Chapter closed. 2. No subletting allowed but find someone to add to the lease. And have them pay the monthly rent for the rest of the lease. The catch is I will be on the lease too, and will be legally responsible till the end of the lease on March. So I posted the...