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lvlz
LIF Infant
Member since 5/05 271 total posts
Name:
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If you are/were in the middle of an apt lease...
Would you break it early (2 months rent termination fee) to go ahead a buy a house you like, or would you wait until the end of your lease and risk the interest rates going up?
We're so torn...
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Posted 9/1/06 10:08 AM  |
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MikesWife
Wanting...........
Member since 1/06 6887 total posts
Name:
Karen
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Re: If you are/were in the middle of an apt lease...
How much is your monthly rent??
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| Posted 9/1/06 10:18 AM |
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leese
Sarge!
Member since 5/05 1965 total posts
Name:
Leese
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Re: If you are/were in the middle of an apt lease...
without a doubt I would go with the house I am in love with.
timing is everything.
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| Posted 9/1/06 10:27 AM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: If you are/were in the middle of an apt lease...
we're in the middle of our lease and will break it if we decide to move OOS. I am not hanging around until the end of May 2007 to get my 2 months back.
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| Posted 9/1/06 10:28 AM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: If you are/were in the middle of an apt lease...
we are hoping that we can conincide a closing with the end of our lease. (Jan. 31) If it happens earlier though, we would forego our security deposit, its worth it!
If it happens after our lease is up... well then... I think we will live with my parents for that time, we are not going to sign another year lease.
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| Posted 9/1/06 10:38 AM |
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CorduroyKate
LIF Infant
Member since 1/06 55 total posts
Name:
Kate
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Re: If you are/were in the middle of an apt lease...
I'd break the lease - Friends of ours were debating this and their managment company said they could leave 1 mo early w/o a penalty because they had been such good tenants and the apt. was a cinch to re-rent. Maybe your mngt. co/landlord would be willing to work with you to reduce the penalty?
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| Posted 9/1/06 11:15 AM |
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MrsS2005
Mom of 3
Member since 11/05 13118 total posts
Name:
B
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Re: If you are/were in the middle of an apt lease...
If I found a house I loved, I'd break the lease. IMO, it's better in the long run to have a house and pay the termination fee than to risk losing a house you really like.
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| Posted 9/1/06 11:38 AM |
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ssbride05
:-)
Member since 5/05 2654 total posts
Name:
Jennifer
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Re: If you are/were in the middle of an apt lease...
Posted by MrsS2005
If I found a house I loved, I'd break the lease. IMO, it's better in the long run to have a house and pay the termination fee than to risk losing a house you really like.
agreed! Good luck on your decision! 
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| Posted 9/1/06 11:40 AM |
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jnico
LIF Adolescent
Member since 10/05 798 total posts
Name:
Joanne
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Re: If you are/were in the middle of an apt lease...
I would definitely break it. 2 months is not a long time and if you found the perfect house and interest rate now, who knows what it will be if you wait. Since two months is almost near the end your landlord might even be nice about it and maybe only make you pay for one. I would just try and give plenty of notice so that they know ahead of time.
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| Posted 9/1/06 11:41 AM |
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snowprincess
My happy babies
Member since 3/06 3428 total posts
Name:
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Re: If you are/were in the middle of an apt lease...
break the lease - just remember penalities are not strict in contract law - they are actually frowned upon - if they rent within in month of you moving out - you should only have to pay one month rent - i would definetly stay on top of them - also keep track of time that they rehab it because that really should not count also because they would probably do the rehab at the end of the lease anyway
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| Posted 9/1/06 11:42 AM |
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lvlz
LIF Infant
Member since 5/05 271 total posts
Name:
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Re: If you are/were in the middle of an apt lease...
Thanks everyone! I think we will talk to our leasing company - the problem is that they are a national company, so they probably won't be willing to change the fees. But it won't hurt to ask!!
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| Posted 9/1/06 11:45 AM |
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MikesWife
Wanting...........
Member since 1/06 6887 total posts
Name:
Karen
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Re: If you are/were in the middle of an apt lease...
Can you pay a fee to your bank for a 90 day rate lock??
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| Posted 9/1/06 11:56 AM |
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lvlz
LIF Infant
Member since 5/05 271 total posts
Name:
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Re: If you are/were in the middle of an apt lease...
Posted by MikesWife
Can you pay a fee to your bank for a 90 day rate lock??
That's a great idea - but we've still got 6 months left on our lease...so we'd end up paying the early term fee anyway.
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| Posted 9/1/06 12:29 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: If you are/were in the middle of an apt lease...
Posted by lvlz
Thanks everyone! I think we will talk to our leasing company - the problem is that they are a national company, so they probably won't be willing to change the fees. But it won't hurt to ask!!
that's right! it never hurts to ask!
good luck 
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| Posted 9/1/06 12:33 PM |
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snowprincess
My happy babies
Member since 3/06 3428 total posts
Name:
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Re: If you are/were in the middle of an apt lease...
we have a 9 month lock on our new build condo - they exist - but it is hard if you don't know the price - through wells fargo we got the lock for free just putting 1% of the loan as a deposit - but we had to have an adjustable rate loan - but they have 10 year arms
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| Posted 9/1/06 12:40 PM |
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lululu
LIF Adult
Member since 7/05 9510 total posts
Name:
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Re: If you are/were in the middle of an apt lease...
Definitely break the lease....
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| Posted 9/1/06 12:56 PM |
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my3bugs
Mom of 2 Boys
Member since 5/05 4381 total posts
Name:
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Re: If you are/were in the middle of an apt lease...
For 2 months - I would break it.
I was going to break mine but my ceiling caved in just in time due to an apartment above me leak and used that to get out of my lease early. I only had to pay like one month extra but worked that into the..we tried to hold off our close but owners wanted to rush it so they paid a months rent or something like that.
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| Posted 9/1/06 2:41 PM |
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Janice
Sweet Jessie Quinn
Member since 5/05 27567 total posts
Name:
Janice
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Re: If you are/were in the middle of an apt lease...
are you going to that house tonight? or was it last night? details lisa!!
I would talk to them, hopefully they can atleast reduce the fees 
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| Posted 9/1/06 3:26 PM |
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Jackie24
~We Did it~
Member since 7/06 6718 total posts
Name:
Jackie
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Re: If you are/were in the middle of an apt lease...
i agree with the others....timing is impt! this house may not be here when your lease is up!
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| Posted 9/1/06 3:52 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: If you are/were in the middle of an apt lease...
rates just dropped- break your lease
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| Posted 9/1/06 4:39 PM |
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lvlz
LIF Infant
Member since 5/05 271 total posts
Name:
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Re: If you are/were in the middle of an apt lease...
Posted by Janice
are you going to that house tonight? or was it last night? details lisa!!
I would talk to them, hopefully they can atleast reduce the fees
We went last night. We really liked it!! So confused right now...excited, but confused!
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| Posted 9/1/06 11:23 PM |
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