Consequences for breaking a lease?

by **madison** » Mon 11 Apr 2005, 15:23:38

What could be/are some consequences for breaking a lease?

I live in Phoenix, AZ and would really, REALLY like to get out of here BSHTF, because it'll be a death trap here. I'm already out of work and am having problems making ends meet. I could move to another state, in with family or friends.

Any ideas? It would cost me $1750 to buy my way out of the lease, according to the office. Plus moving costs, cost of not working for another week or two or three while relocating etc. Yikes.

by **erl** » Mon 11 Apr 2005, 15:36:39

Madison:

How long do you have to go before your lease expires? What is your financial status like?

The reason I ask is that landlords can, and will, sue to recover their losses for breaking a lease. This can include lost rent, repairs, attorney's fees, etc. It can add up to a lot.

Are you judgment proof? Meaning, no bank account, no car (at least not a new one with equity), no valuable assets. People without assets can, and do, walk away from obligations and somewhat get away with it. It will screw up your credit. That may not concern you now, but it very well may if society doesn't collapse immediately and you are looking for a new place to rent or to take out a mortgage loan. Your current landlord can add an item to your credit record showing that you broke your lease or if he/she wins a judgment against you, that will appear on your record.

Bankruptcy may be an option for you, talk to a BK attorney in Phoenix. In all honesty, sticking it out or buying your way out may be the best option. If you have any other questions, I'd be happy to help.

erl

by **The_Virginian** » Mon 11 Apr 2005, 15:38:32

trap a field mouse, some "caca"roaches, and start an ant colony...

record the mayhem.

break lease.

I have no clue about your states laws, or CREDIT SCORE, but it sounds like fun.

(500th post Gotcha!)

by **erl** » Mon 11 Apr 2005, 15:39:50

Madison:

Another thought. Offer to buy your way out of the lease over time. Ask if you can set up a payment plan to pay off the $1750 say at a couple of hundred a month or whatever you can afford. Thay way you protect your credit record.

Believe me that screwing up your rental record could hurt you in the future.

erl

by **The_Virginian** » Mon 11 Apr 2005, 16:10:11

wait a sec!

Why not GET THROWN OUT!

HAVE FUN throw a PAAARTY....a big one (no druggies ya don't need jail)...

(not that i'd do it but it sounds like fun!)

Are PETS allowed? IF not Get a PITBULL

They brake the lease, you keep your moneyand you gain a friend.

by **pea-jay** » Mon 11 Apr 2005, 16:19:27

Hows the rental market there?

I needed to break a lease when I lived in Chicago and talked my way out of it by suggesting the unit could get more if it was advertised. It was in good shape and the neighborhood was becoming more popular. The landlord let me out AND returned the entire security deposit.

by **RonMN** » Mon 11 Apr 2005, 16:25:47

I once just packed up & left and let the bastard keep my lousy $100 damage deposit & left no forwarding address...although i only had 1 month left on the lease so he couldn't have gotten much from me any how.

The big problem is having no reference for the next place you rent.

by **zed** » Tue 12 Apr 2005, 00:10:18

I had a similar problem in Florida but was $3k in the hole. My solution was to find a sublease tenant, which isn't as hard as it sounds. Just flyer around the area and offer a discount on the rent (assuming you can afford to eat 10-20% of it). There may be some apartment finding services that will help you find a sublease tenant also. I had to eat a little bit of my remaining lease, but it was well worth moving on with my life!

by **madison** » Tue 12 Apr 2005, 01:31:39

Hmmm, well, thanks for the advice, kinda what I thought. I don't want to screw up my credit score, I just put a large amount of energy towards sprusing it up, lol. Oh, well. I guess I just pray the S does NOT HTF any time soon. My lease is up in 8 months, fwiw. :cry:

by **The_Virginian** » Tue 12 Apr 2005, 03:09:49

Madison,

8 monthes? Nah, the SHTF is not likely to happen just yet. So far we are being corraled into a recession, that may cut demand for a while...

I would use your home base as a time for exploring other areas with some forest and at least obtainable and potable groundwater.
Think of your appartment as keeping one foot in the Petro world, and you mind focused on the future...you'll get there.

by **Grimnir** » Wed 13 Apr 2005, 02:06:01

I don't know what the law is in Arizona, but in Wisconsin landlords are required to do everything reasonable within their power to release the apartment, and only if they're unsuccessful can they sue you for the remaining rent. The tenant is required to pay the advertising costs, however.

Consequences for breaking a lease?

Consequences for breaking a lease?

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