breaking rental contract
Out of context: Reply #4
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- monospaced0
I broke my lease in NYC last year. The process was pretty straightforward. I told the management company that I wanted to leave early and break my lease, and they told me to find someone to take over the remainder of my lease at the current rate. I did that, and they provided me with a Lease Break contract, signed by me and the new tenant, stating that he was taking over the lease and the responsibilities to the apartment. Interestingly, because I was the original lease holder, I was still ultimately responsible for the apartment. So, even though the new tenant signed the lease agreement, if he didn't pay, I would be on the hook.
The other option provided by this contract was for the new tenant to take the apartment, but at a higher rate the management company decided on. In the end, the new tenant took over the last 5 months of my lease, paid everything on time and didn't destroy the place. I was off the hook, and he even ended up signing a new 1 year lease after that.
- Much like assuming any lease or mortgage then. That liability is always so concerning though.ETM
- yeah, liability's a bitchmonospaced
- where are living now? Nicer apt?organicgrid
- 34th and Park with my girlfriend. Much nicer place, and it's huge.monospaced