After signing a lease and receiving the keys from the management, can I get my money back (first month and deposit)?

Asked by rcb, New York Mon Mar 19, 2012

I signed a lease and the management gave me the keys on Saturday. Same day I noticed that I didnt want the apartment. I would like to know if I can get my money back (first month and deposit) I contacted management on sunday to let them know issue.

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John Sacktig, Agent, New Jersey, NJ
Mon Mar 19, 2012
Woo - Not sounding too good. You will want to sepak with the mangement company and discuss. Technically, you are on the hook for the entire lease amount.

Be sure taht you are level headed and disucss the situation and expalin your details involved in your not wanting the aprtment. If there is an issue and they will not let you out of the lease, you may need to seek an attorney for help.

I wish you the best of luck! Please let us know how this issue resolves!
2 votes
Jenet Levy, Agent, New York, NY
Mon Mar 19, 2012
You have signed a lease and gotten the keys. Therefore you have a legal contract which obligates you to pay the agreed-upon rent for the duration of the lease. Changing your mind the same day is unfortunate, because there is no obligation for the management company to return that first month's rent. You should be entitled to the security deposit, as you have not damaged the apt. in any way. Because our NYC rental market is very tight, with an extremely low vacancy rate, it is quite likely they will let you out of the lease going forward.

Jenet Levy
Halstead Property, LLC
212 381-4268
1 vote
Thanks, I think that's what will happen.
Flag Mon Mar 19, 2012
Joseph Hasti…, Agent, Bayside, NY
Mon Mar 19, 2012
To be direct, the most honest answer is probably no on the rent but yes on the security. The management company has the right to charge you for the remainder of the lease but considering it's mid-March and the rental market is hot, you might get away with losing only the one month. After all, they apartment came off the market because you wanted it. it may take a couple of weeks to get it rented again and management will look to keep their cash flow steady. By the way, if you left a message w/management on Saturday and didn't talk to anyone specific, you better follow up on that. Good luck.
0 votes
Martina Ryan, Agent, Flushing, NY
Mon Mar 19, 2012
Probably not but wait for a response from the management company.
0 votes
rcb, Home Buyer, New York
Mon Mar 19, 2012
Well, finally I have news from the management. They are going to give me my money back after deducting $250 for administrative fees.

Thanks everyone!!!
0 votes
Tammy Benkwi…, Agent, Somers, NY
Mon Mar 19, 2012
As everyone below has said, you have a lease and you need to read it carefully to determine your options. If there is no recourse, then you need to talk to management to dicuss your situation to see what can be done.

You are likely responsible to pay the rent for the ENTIRE TERM of the lease. Speak with management to see if you can opt out of the lease for a reduced sum if they can find another tenant. Of course, speak with an attorney to get legal advice.
0 votes
Kelly Putz, Agent, Fairfax, VA
Mon Mar 19, 2012
Not likely. You signed a contract agreeing to pay a monthly amount for a certain period of time, plus you received the keys, so you are legally on the hook for the total lease period, unless there is a clause allowing you out, but that's highly unlikely unless you can prove hardship or medical reasons, which may then involve an attorney. Also, this may affect future rentals as a good management company will research your rental history.

1) Speak to the management company. They may let you out of the lease if you find a reliable replacement tenant yourself, keeping them from having to spend money to find one, OR they may have had a backup tenant ready to go if you did not sign the lease when you did.
2) Sublet, if your lease and local laws allow for it. It's a pain to find someone else to rent the place, pay you the rent and then you pay the management company, but at least it won't be coming out of your pocket.

Good luck!
0 votes
Raoul Sodoga…, Agent, New York, NY
Mon Mar 19, 2012

Put it this way, you sold your used car and got the money you needed for whatever reasons you are selling your car. Then the buyer came by you the next day telling you that he noticed that same day that he didn't want the car anymore after you already given him the keys and you have no idea what he did with the car or whatever he put or took from the car, as because he got the keys, it means he used the car for one day. What will you do? Will you really give that buyer his money back and just take your car?

Think, because that answer depend on what answer you are looking here.

And you said it yourself, you signed a LEASE (which is a contract) and got the KEYS (which means technically you got access to the place and start living there).

Let me know if you need further explanations.

Warmest Regards,

Raoul Sodogandji
Global Market Specialist
Licensed Salesperson

(o): 212.252.8772 (EXT.782)
(c): 347.993.8333
0 votes
Anna M Brocco, Agent, Williston Park, NY
Mon Mar 19, 2012
Generally the lease is a binding contract, therefore more than likely no; however discuss with management....
0 votes
Sheilynne De…, , New York, NY
Mon Mar 19, 2012
NO you can be charge the term of the lease. Best way to get out is talk to management and see if you can find a tenant for the apartment.

Best Regards,

Sheilynne Delgado
0 votes
Janet Nation,…, Agent, Baldwin, NY
Mon Mar 19, 2012
Not only will you most likely not get your money back, they can also demand the monthly payments due for the term of your lease.
0 votes
Nick Rafello, Agent, New York, NY
Mon Mar 19, 2012
No. The lease you signed is binding.
0 votes
Robert Wagner, , New York, NY
Mon Mar 19, 2012
They could charge you for the length of lease.
If you could find someone to take the apartment, they might let you out of it.
0 votes
Weichert Rea…, Agent, Watchung, NJ
Mon Mar 19, 2012
Read the lease. If it was for one year they could demand all of it. Regards,
0 votes
Flag Mon Mar 19, 2012
Tim Moore, Agent, Kitty Hawk, NC
Mon Mar 19, 2012
You signed a contract - a lease - and it is a binding contract between you and the landlord or their management company. If you just changed your mind you will likely be able to get out of the contract but you will probably not get all your money back. If there is a valid reason that you no longer want the apartment, then you might have a chance to get some back.
0 votes
I took the apartment 'as is'. Basic stuff as kitchen appliances, electricity, gas installation, heater, pipes..etc...were supposed to be working. I had to fix some stuff on the walls, clean and paint the apartment; but I noticed that the bathroom was totally disaster. Basically I have to pay a plumber to fix shower pipes, etc...So I dont want to spend more money. Do you think this is a good reason to get my money back or at least a part of it?

Thanks in advance
Flag Mon Mar 19, 2012
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