Should we break lease and move closer to work?

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countofmc
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Should we break lease and move closer to work?

Post by countofmc » Mon Mar 10, 2014 8:28 pm

Currently my wife and I both have roughly 10 miles (30 minutes or so) each way commutes. We live in a big city, so this isn't too bad. However, there is a popular apartment complex much closer to both of our jobs that would cut our commutes in half and would let us carpool. 1 bedrooms (the type we are looking for) don't open up often in that complex, so when we saw one we decided to put a deposit down on it, though our move-in would be a month before our current lease is up (so we'd have to double-pay rent for a month). We figured it would even out with the shorter commutes and because the rent would be $100/month less than our current rent.

We put the deposit down and they were supposed to run our credit and let us know if we are approved. However, they just let us know today that they misquoted the rent and it's actually $150 HIGHER than we had though. So instead of paying $100/month less than our current rent, we'd be paying $50/month more. Plus that one month of double-rent. I know it's only $150 bucks, but that psychological barrier of having thought our rent would go down to it actualy being higher is kind of a drag. Normally we'd think something fishy is up (bait and switch) but overall this apartment is huge and has tons of reviews and nobody has complained about something like this, so I think it was an honest mistake. That being said I still think the mistake was unprofessional and has left a bit of a bad taste in our mouth. But this is the only apartment complex that's halfway decent that's actually closer to work than we are now.

So... should we move? Or take a pass?

Nukeboilermaker
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Re: Should we break lease and move closer to work?

Post by Nukeboilermaker » Mon Mar 10, 2014 8:34 pm

I'm going to take a loss on my current home to move to a nicer and closer to work home... It's just one of the sacrifices you may have for better apartment and closer to work. You always need a roof over your head, it's a lifestyle choice and not necessarily an investment to choose your housing.

Jack FFR1846
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Re: Should we break lease and move closer to work?

Post by Jack FFR1846 » Mon Mar 10, 2014 8:36 pm

If you have not signed a lease at the new place, then they can certainly change the rent at will until you actually sign. If you've already signed the lease for the lower amount, they are bound by that lease.

Don't get all emotional about it. Having 1 month overlap is amazingly good. You might also ask your current landlord to move out early and perhaps get something back. You might get nothing, but what the heck.

It sounds like a good move. From what you've said, I'd do it.
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VictoriaF
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Re: Should we break lease and move closer to work?

Post by VictoriaF » Mon Mar 10, 2014 8:36 pm

I'd say move.

I will probably be renting two apartments simultaneously. While it's unpleasant, there is a silver lining. During the month of double renting, I will slowly move clothes, kitchen stuff and some other items to the new place. This will eliminate some packing and ensure that the breakables won't break.

Victoria
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weltschmerz
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Re: Should we break lease and move closer to work?

Post by weltschmerz » Mon Mar 10, 2014 8:38 pm

Sounds a little like bait and switch, but maybe they just got a lot of interest in the apt, so they felt that the high demand justified the higher monthly rent. Someone will pay it, if not you.

Do you have 2 cars? If the new place is so close to your workplaces, maybe you can start carpooling/using mass transit/bicycling to work, and get rid of one car. Now you'll be saving lots of money (no car payment, maintenance, insurance) and the $50 more per month for rent will seem like nothing.

countofmc
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Re: Should we break lease and move closer to work?

Post by countofmc » Mon Mar 10, 2014 8:45 pm

Thanks for the advice so far.

I was thinking of making a separate thread for this issue, but maybe some of you will see this and provide some input. So if we move, we will be vacating our apartment a month early. Already talked to landlord, the one month rent is cheaper than the lease break fee that's written into our lease, so we are just going to pay that.

However, since theoretically this apartment will sit empty for a month, do I have any "duties" to continue to maintain it, such as keeping the electricity/water on, or maintaining renters insurance (which is required by the lease)?

countofmc
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Re: Should we break lease and move closer to work?

Post by countofmc » Mon Mar 10, 2014 8:53 pm

The Dan wrote:Sounds a little like bait and switch, but maybe they just got a lot of interest in the apt, so they felt that the high demand justified the higher monthly rent. Someone will pay it, if not you.

Do you have 2 cars? If the new place is so close to your workplaces, maybe you can start carpooling/using mass transit/bicycling to work, and get rid of one car. Now you'll be saving lots of money (no car payment, maintenance, insurance) and the $50 more per month for rent will seem like nothing.
Yes, 2 cars. If we move we were gonna get a feel for things for a bit and see if we can go down to one car. Probably won't though because public transportation around here is horrible and I'd probably end up needing a second car again if my wife and I get a different job and end up with a longer commute again.

NorCalDad
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Re: Should we break lease and move closer to work?

Post by NorCalDad » Mon Mar 10, 2014 8:59 pm

Any way you can negotiate with the new apartment complex for some months at the lower price? Sounds a little fishy to me, but if it was an honest mistake, perhaps they can apologize financially.

All things being equal, moving closer to work always makes sense to me. You could psychologically overcome the thought of $50/month more by thinking about the gas/car savings, not to mention your time.

travellight
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Re: Should we break lease and move closer to work?

Post by travellight » Mon Mar 10, 2014 9:01 pm

Typically you would have to maintain utilities until the lease ends.... you can turn everything down to a safe but low level.

countofmc
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Re: Should we break lease and move closer to work?

Post by countofmc » Mon Mar 10, 2014 9:07 pm

NorCalDad wrote:Any way you can negotiate with the new apartment complex for some months at the lower price? Sounds a little fishy to me, but if it was an honest mistake, perhaps they can apologize financially.
No, these apartments are so popular they'll laugh, give us back our deposit, and tell us good luck. But that is also why I'm inclined to believe it was an honest mistake. They simply have no reason to pull silly bait-and-switch tactics, because even at the higher rent they'll have no problems renting out the unit, if not to us, then someone else. Vacancy rates in that area are REALLY low. Weird zoning laws have made it the only large apt complex in a mostly commercial area, so a lot of employees that work in the area want to live there (including us).

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