Rental Basics in 77019>Question Details

Tmv, Home Buyer in Houston, TX

I am currenly renting a apartment. My lease contract is 1 yr if I buy a house and move out before my lease expired do I have to pay penalty if any ?

Asked by Tmv, Houston, TX Sun Oct 4, 2009

Thank you in advance ( I live in Houston ,TX)

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Answers

5
Hello Chris,

I suggest that you carefully read your lease and go in and speak with the management. Each company may vary on their rules in this situation.

I have experienced this and it worked in my favor.

Kind regards,

Roberta Storey
0 votes Thank Flag Link Wed May 28, 2014
Good morning and Happy Memorial Day. I have actually been through this myself. The legal answer is to read your lease, however I have several suggestions. First it depends on how long is left on your lease. If you only have a month or two you are better off just honoring the lease and paying it even if you move out. However if it's a longer, here are a few suggestions:

If your apartment community has a high occupancy rate, speak to the manager and tell her your situation and see if you could make it available to lease, if they would let you out early. I have seen this work many times, but it will not work if they have a lot of vacant apartments.

Secondly, if they allow, try to sublet your apartment for the remainder of the term.

If none of these work, you can pretty much expect to pay about 1.5 to 2.5 months rent as a penalty to get out.

I'd love to help you with your new home search. Give me a call or email!

Chris Prince
Martha Turner Sotheby's International Realty
cprince@marthaturner.com
832-993-2796
0 votes Thank Flag Link Mon May 26, 2014
This information is found in your lease agreement but you do have some other options. If you are renting from an individual owner they will often work with you on this. Complexes not so much but if you give them thirty days agree to pay until the rent out the unit and basically bend over backwards with them they will let you out. Their biggest worry is not having a person in there to pay rent. These are some options to explore and if you are looking for a house now is definitely the time to buy. Let me know how I can be of help.
Saul Carrillo Realtor
832-527-2268
It Homes
seeitsold@gmail.com
0 votes Thank Flag Link Mon Oct 5, 2009
For the penalty, you should take a look at the Lease Agreement you signed. If you break the lease, you are definitely responsible for the months left on your lease.
Talk to your landlord or Leasing office (if you are renting in an apt complex) and explain to them that you are trying to take advantage of the $8,000 tax credit which so far it's supposed to expire on November 30th. They might give you a break. You never know.
0 votes Thank Flag Link Sun Oct 4, 2009
That will be spelled out in your lease agreement.
0 votes Thank Flag Link Sun Oct 4, 2009
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