Moderator: TenantNet
by Shena99 » Tue Oct 24, 2017 6:11 pm
by TenantNet » Tue Oct 24, 2017 6:16 pm
by BubbaJoe123 » Wed Oct 25, 2017 10:15 am
by TenantNet » Wed Oct 25, 2017 2:02 pm
by BubbaJoe123 » Thu Oct 26, 2017 3:59 pm
TenantNet wrote:Bubba, technically side agreements as you suggest are also not legal. I'm not saying it isn't done, but that legally all leases must be on the same terms and conditions as the original lease. That's important as many such agreements are not to tenant's benefit, and often the result of LL intimidation and harassment.
The "legal" way for a tenant to leave mid-lease is simply to leave, and the LL accepts the tenant leaving without seeking rents for the rest of the lease. That is something LLs and Ts can agree to ahead of time, and maybe (talk to a tenant lawyer) even put on paper.
Yes, that sounds somewhat like what the OP and Bubba suggested, but there are distinctions as the original lease or renewals are not altered, not is the legal LL/T relationship. Buyouts can get complicated and I'm not even addressing that here.
If they buyout is significant, I would consult an attorney, but be aware that attorneys often get a percentage of a large buyout (I've seen 1/3) and then tenants might be liable for taxes as well.
Another way to approach this is to assign the unit to a new tenant, but that doesn't address a buyout, a time to renovate the unit.
by TenantNet » Thu Oct 26, 2017 4:58 pm
by BubbaJoe123 » Thu Oct 26, 2017 7:04 pm
TenantNet wrote:I thought someone mentioned buyout, but apparently not (there's another current thread on that issue).
Either way it's still not legal to have an agreement to pay more than the legal rent. Consider that this could also impact subsequent tenants.
by TenantNet » Thu Oct 26, 2017 7:22 pm
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