TenantNet Forum

Where tenants can seek help and help others

Early Lease Termination

Issues unrelated to specific categories below

Moderator: TenantNet

Early Lease Termination

Postby maacgleeen » Mon Jul 08, 2002 7:14 pm

I am attempting to terminate my (2 year) lease early (after 1 year will have elapsed-we are currently 9 months into the lease). My wife has lost her job, and we are strapped for cash.

I sent a letter three weeks ago to my landlord to try to get the ball rolling, and have followed up a few times by phone, but as yet I have not spoken to him.

Per my lease, I am liable for the entire lease term if I vacate. Certainly it would be reasonable to think that a new tenant can be found within three months, except for the fact that my building is new, large, and still has a relatively high vacancy rate. That is, I am sure that new tenants will be moving in to the building, but who is to say that one would necessarily move in to our apartment, thus relieving my of my obligation?

Subleases are permitted, but the terms being offered to new tenants are far better than those when we moved in.

What would the LL realistically do in the event that we simply bail, based on our financial situation? (for what it is worth, we would not qualify for the apt given our current income).

What are the possible credit repercussions of vacating the apartment? (we intend to pay as long as we live there).

Also, if we must stay, any strategies on lease renegotiation?

Any thoughts or advice, especially on our legal rights/obligations would be appreciated.
Posts: 5
Joined: Sat Jun 22, 2002 1:01 am
Location: NYC

Return to NYC General Discussion

Who is online

Users browsing this forum: No registered users and 11 guests