My Landlord Wants Me to Terminate Our Lease Agreement
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- čas přidán 16. 05. 2021
- My Landlord Wants Me to Terminate Our Lease Agreement
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Most landlords wants to end your contract because they want to renovate their apartments and/or increase rent
14 days to re-locate? That’s not a lot of time.
These days depending on location you might not even be able to get a Uhaul that fast, never-mind scheduling a moving company. That’s an absolute BS amount of time.
Ofc it's not
Check around for rent prices before doing anything else. They are probably sky high and he wants you out so he can jack the rent on someone else.
You are right, $900 is cheap. He wants to raise it to $2000 a month. He doesn't want to sell it, rents are ridiculous these days
I would do the same
She needs to get a local moving quote and have him cover the moving costs on top of the 2k buyout. Even local movers are super pricey these days.
Don’t get a head of yourself she first needs to find what her options are for another place. That’s actually the key number that dictates what she’s willing to take
@@johniii8147 I agree with that. I'm just saying she needs much more info before she can really come up with a fair value compensation. Moving sucks, especially when you don't legally have to.
@L Cam Because the landlord wants to break the contract he agreed to that would result in her having to accrue moving costs she wouldn't otherwise have...
The lease is active for another year.
@Muddobber McCrablice Of course she is, but maybe that is why she signed a two year lease. Maybe that's not in the budget for her and was not on her radar at the moment. The 2k is a nice start, but she doesn't have to move as she has a lease she is abiding to. If the guy wants her out, he should cover the current costs of her having to move right now. Most rental contracts have a heft buyout fee if the renter wants to break the lease early. Why shouldnt it go both ways?
Like Dave said she needs to negotiate.
Why would anyone pay movers....
After years and years of watching Judge Judy, Dave’s point about getting the agreement in WRITING is so incredibly important. Hopefully they can work something out!
It's critical. Any agreement should always be in writing!
Pretty common sense especially with a deal like this
$900/month is cheap rent these days. She better check out what she's going to have to pay for the next place.
The landlord makes the first offer for termination, then, you negotiate...
yep -- the first one to make the offer, loses, is usually how this goes.
He wants her to terminate the lease because he doesn’t want to get sued. He needs to pay you out for the termination.
900 bucks seems pretty affordable. I wonder what the average income in her area is and what type of deposits are required. She definitely needs to crunch more numbers before she starts her negotiations.
Thanks to randomly finding Dave a year and a half ago I paid of $40k in that time and now I’m debt free and working on my emergency fund (it’s 60% funded so far!)
Thought I was doomed to be in debt forever and I didn’t see another way. Thanks for all you do Dave!
Awesome! Keep pushing forward.
I found Dave randomly also...a month after buying a car I could barely afford!!😔
@@marybetheby5184 Better late than never! ...And it's not impossible to fix the bad purchase and change financial strategies!
You paid off. Not paid of 🤷
@@marybetheby5184 it’s never too late to start!
14 Days? Outrageous, yeah no
Yeah that would’ve been the first dealbreaker for me I would’ve just laughed it should be more like 60 days it takes time to find a place
Whatever you agree to GET IT IN WRITING especially because it’s after close and you’d already be gone 😂
It's also good to read your lease/rental agreement before signing.
Get it notarized too
Get it in cash.
What about her security deposit?
I'd make sure she gets it back before leaving - put that in writing
make a record of the calls, maybe even record the calls, and then do email/text/contract, so if it goes south, or you don't get the $$ he agreed to, you have a paper trail as well as the contract.
I'm 19 years old; but, my parents raised me to have that peraonal connection. I can write in beautiful cursive; and, I grew up preferring to talk on the phone or talk in person. Everyday when I was younger, I heard them tell me the whole point of a text was so that the person could get back to me when they had time
DO NOT agree to any deal that is contingent on the condo transaction closing. You are being paid to vacate and as such you should get paid when you vacate. You’re not responsible for the other aspects of the transaction. Remember, the landlord is the one breaking the lease so you have leverage in negotiations.
She will never see the $2000, I have been there.
Yep, she should NOT take any deal unless she gets the money when she turns the keys
@@arga400 5/17/21...CASH---NOT A CHECK!
Lol. You shouldn’t have destroyed the place, you bum.
The thing about texting versus phone calls... People can forget (or pretend to forget) specific important points or instructions in a verbal conversation. Ask me how I know. And when a problem occurs, it's always the person on the "low end of the totem pole" who gets blamed and has to clean up the mess. Ask me how I know. Conversations are great, but follow up in writing.
Always do this at work. People get annoyed often as I prefer to email the person next to me but if ya don’t it’s always a he said she said situation
$900 a month for rent. Wow must be nice.
I have a daughter and niece that still send cards and snail mail thank you notes.
My does the same thing....she actually makes the cards too.....
I like cards too, but to be honest, I'm totally happy with my niece sending me a text that says, "Thanks for the gift. Love you ❤", which is what she does.
@@jimroscovius I would prefer that they send a text too or call but they both want to send cards. Maybe it has something to do with the fact that they both work at the post office.
I write thank you letters and make my kids do so as well
"Don't burn your bridges." I called a job offer on second interview to thank them and let them know I wasn't going to make the appointment...I had taken another offer. The guy called me three more times to make sure I was happy where I was...he honestly couldn't touch the job I had taken. In course, I told him my dad was looking at day shift positions if he still had it available. Due to my actions he told my dad the job was his if he wanted it as soon as he walked into the door. "Anyone who raised a son to do what he did is the kind of people we need working here," is what he told dad. LOL Dad said it kinda made his old head swell up just a little.
yeah 14 days to vacate is ridiculous
Yes we are getting more connected, yet more disconnected
Deposits somewhere new will cost close to $1800... not to mention the cost of moving. I'm currently in this situation and there is no where comparable to move too.
Start saving up! Start looking for a new place knowing the rent will be higher, and Start packing now! Be as prepared as much as possible for your landlords phone call of you having to be out in 30 days!!! Or sooner. This Sucks, I am very sorry you are having to go through this during a pandemic.
Its because houses and everything has gone up in price. He gets her out, he pays her $2000 for the early leave, but instead of $900 a month rent, he's prolly going to do $1500 a month rent to the next buyers.
We offered 5k for our tenants to move, they refused.
Part of the problem with the tyranny of the phone and having to respond to everything immediately is that sometimes you really need to meditate on something for a day or two in order to have an appropriate response. Sometimes responding off the cuff is not the best way.
Questions? How much would moving expenses be? If that uses up most of the $2k, might not be enough. Also, what is rent in an equivalent unit? If you're paying $900 and can't find anything for less than $1500, then you're out $600/month x 12 months you could have paid the good rent.
Indianapolis most homes rent in the 900-1300 range unless you are renting in some of the more expensive neighborhoods.
I’d tell him that he needs to pay the amount of the rent for the rest of the lease. 900X12 months =10,800.
If the roles were reversed typically the renter that is terminating the lease has to pay out the remainder of the lease. It’s only fair.
That's generally not true. It's 1-2 months of rent for early termination is normal in rental contracts. Normally they also add kickers to get you out sooner.
Have that $2k put into the escrow so when it sells you are assured the money. Also factor in any termination charges for utilities.
Tell the owner to give you $10K and you will move out within 14 days.
thats like a year's worth of rent in this scenario...thats obscene.
😂 ya no
I manage condo rentals for owners and have helped negotiate early move outs many times. The highest incentive that we have paid is $62K, and the lowest was $5K, so $10K would be pretty good.
@@jimklemens5018 I would like to be your tenant
He won’t have the cash until he sells it so that’s not a good negotiating position she got the right advice negotiate off the rent now she might bump up the 2k to 4K with a 30 day notice quite possible
In Ontario, the landlord can break a lease to sell. Its just about one of the only ways to do so without due cause. The other is to have family move in to that apartment.
Get the money upfront or you will not see it.
If your landlord wants you to move he's responsabile your move!
Cost for moving is $2000. You lose time. Moving sucks. Moving sucks, moving sucks.
One of the reasons why I'm the minimalist type.
I hate moving so much I tell my friends to never ask me to help them move.
Old Scottish saying: Three moves are as bad as a fire.
If moving sucks, you should own instead of rent.
2:06 “It needs a lot of work and it has....” what the heck did she say there? I played it 10 times and still can’t make it out.
high HOA fees
@@TheBlackDorothyZbornak Ahhh! Thank you! Give my regards to The Black Sophia Petrillo.
From Lebanon 🇱🇧 I love mr Ramsy and his show is the best
Better get it in writing!
I dont know Indiana's laws, but in most landlord friendly states, which i have a feeling Indiana is one, landlords can terminate leases with no compensation to the tenant as long as they fulfill the notice period in the lease. I'd take the 2k.
Right on Dave!
I was almost in her same situation but the owner decided to keep it. We had a couple inspections done in the property and I thought for sure I was going to be asked to vacate since my lease is month to month.
That means they failed inspection and was going to have to put too much money into it to sell it
@@johniii8147 More than likely thats what happened. This place does need some work for sure.
This happened to friend of mine in LA and she and the other tenants were given 6 months notice and 20K to move out.
Cant they just notify the tenant to vacate within 30 days when the property is sold?
No, in most places the new owner must honor the lease agreement of the previous owner. The owner inherits the responsibilities of the previous landlord.
@@Tuton25 really, my lease literally says i have to vacate 30 days after a sale
She has signed a lease and still has a year left. Even if they send her a notice she isn't obligated to leave.
@@Tuton25 No, that's not how it works in most places.
@@kateruterbories2692 "If the landlord sells the house or apartment (as opposed to foreclosure by a bank), the lease transfers to the new owner (buyer)." is directly from the Minnesota tenants rights page where I currently live.
If she wanted to break the lease, he’d make her pay the balance.
My girl friend is Filipino and she has the best penmanship of cursive writing. Its just different now days and it is a shame. I loved writing in cursive but now with my career I don't write at all. So true, some people get so frustrated if you don't respond right away.. its a lot to talk about.
She's got a signed lease. Legally she doesn't have to go anywhere as long as she is paying
Should have asked her more financial questions like what does her savings look like to see if she can move somewhere else.
What an assine unfair deal for the renter. I would agree to leave if the owner pays for my relocation, first months and security deposit for the new place. You will probably end up paying more for an apartment right now.
One of the disadvantages of renting.
It's not assinine or unfair, these are the agreements entered into when you rent. If you own, there are other things you agree to.
Not really, just part of renting. Owners have their own disadvantagez(foreclosure, taxes, matienence, paying for repairs/doing the repairs, less peace of mind etc)
@@ambulantgaming8483
As a homeowner with homes paid off none of those are issues in my case.
I can see them being disadvantages for people that bought a home they could not truly afford though.
@@blackworldtraveler3711 I'm sure, but if you can afford a house then you don't need to be renting right?
The few times I have booted tenants because I want to sell I give them a month's rent for free myself.
Get the agreement in writing.
Where is she going to go? Can she find a comparable place at that price?
Why would it matter?
She will find another place to live like anybody else and deal with it.
In Indianapolis, yes.
Her problem. Not the landlord.
What she really wants is to stay there for another year. I don't blame her.
It happened to me. I stayed the extra year but my landlord was mean afterwards.
@@daniellelandau7762 I would be mad too
@@lionheart93 Do you mean you would be mad like the tenant or like the landlord? The landlord doesn't get to be mad because he signed a lease, and if the landlord were to retaliate he could be reported and sued. Just like he expects his tenants to hold up their end of the lease, so should he. She is under no obligation to terminate a lease to suit his needs, just as would be the case of the roles were reversed. Let me tell you how many times a tenant gets married or moves and thinks they are not responsible for the remainder of a lease and how many times the landlord agrees with that assessment. Never.
Well it’s really up to you.if it was me I will just make him pay for 1st month rent wherever I’m going, return my security deposit(whatever is left) and moving expenses.I don’t think you need more because that’s what u need to move out.and go on my way.
Alot of property owers are selling and selling hight. Its a very sad time for renters. Too many people trashing properties and taking advantage of the eviction bans.
Who knows maybe the new buyer just prefer she stay there instead of them finding a new tenant. They could renovate rooms as they become available...she seems like she be a good tenant and those can be tough to find.
Nice work ✨🎇🌠
Here in Sweden, this would probably be illegal, or very difficult to implement. The only real reason that is allowed for dismissals is if you have dug and repeatedly disturbed the neighbors, or if you have repeatedly been late with the rent. Even then, you usually have a three-month notice period. On the other hand, it happens that landlords renovate homes to justify a rent increase that may mean that the tenant cannot afford to stay.
Dave is right, make sure it's in writing. Personally I would not agree to move for a promise of cash later. "Pay me 3000 now, plus moving costs and 30 days notice. Lease is forgiven.". Something like that.
No you get the check before you leave
He needs to pay her a fee, just like they make tenants pay early termination fees.
Better way is to negotiate for vacancy in the next sixty days, regardless of whether unit is sold or not, through a buy-out and include rental reduction as compensation for showings. Payment would be written contract as paid within 30 days after vacancy (standard clause of returned security deposits), regardless of whether the home actually sold or not. This way, the renter isn't stuck with having moved out if a sale falls through (not her problem). The benefit of this structure is that she can have time to look for new living arrangements right now, plan it out, and move on. I can't imagine living each morning whether I'll get an email saying the home closed or not and getting my short notice to leave - even a renegotiated 30 days is too short notice.
Oh come on this is easy... Just find another apartment and ask for a some money and be done...
Not sure about you, but we typically associate our homes with familiarity and comfort. Moving is actually just about as emotionally taxing as a death of a close friend or family member
Moving stinks! I'd rather have things be awkward than move unnecessarily.
This caller sounds she wants to make some money.
Read ur lease agreement.
How can I reach Dave Ramsey from Canada. I love his show.
...you realize telephones and the internet work across borders...?...
Candice......
honestly i'd stay if I wanted to. She has no legal obligation to leave her lease, and the landlord could technically sell it with her in it.
Depends on the state and county whether he could sell it with her in it or not if he doesn’t have a written agreement.
@@johniii8147 oh I didn’t know it was different. I’m a realtor in Florida and the tenant, even under verbal agreements, are bound to the property and not the owner.
@@boots911 Yep it’s all local and state laws that determine what can legally be done. Florida is one of the states that actually has very lax tenet rights.
@@johniii8147 I just looked it up and nope, it’s federal. The tenant always stays with the land
No you get 90 days
$900 a month, that's cheap!
Your comment about walking over to someone instead of technology only works in smaller companies where everyone is together. In big companies even if I am in the office I am working with people from a cross the country and another countries. Walking over to them is not an option.
$900 a month and landlord already offers you $2000? Madam, you are a little greedy asking more.
Tell him too take the money out of your rent.
"Get the MF on the phone, the phone" - Mike Patton
Pay my moving costs and sure, why not.
Fellow Hoosier!
Make the landlord buy out the remainder of the lease, with a signed statement that the landlord wanted to end the lease to sell the property.
Would you do that if it was the other way around? Probably NOT, genius
For some of us being on the keyboard is how we make a living
Not a good deal suggested. Firstly, 14 day vacate is ridiculous, particularly when the place is (supposedly) for sale. Having the place 'inspection ready' all the time is exhausting (I have done that, you cannot live your life for fear of sudden inspections, I even had one turn up on my doorstep unannounced).
I would question the 14-day thing, I don't know about the US, but that seems a very quick close, is it not? Hence, this seems suspicious as to whether this is a genuine sale or not.
Landlord is asking to break the contract half way through. Frankly, my counter offer would be six month's rent, payable when I move out, not contingent upon any sale. I would be doing hardball on this one. Also check the lease agreement for a sale contingency to know where you stand. There is likely a clause that says what number of months EITHER party is on the hook for, for breaking the lease.
Smells a bit fishy somehow.
$900 dollars a month for a condo? In NYC, that will get you a room maybe with a private bath.
You can ask for cash for keys but u would ask for what I want and do it in writing. I did it
A 2 weeks notice is lost as well with younger staff. I got an email from one staff that said "I don't want to work here anymore."
I don't think she was quitting, I think she was just venting.😂😂😂. Also I have always been confused by a two weeks notice. The company won't give you a two weeks notice before firing or laying you off. Why do they deserve better?
Human Connection with the Selected Few...Some personalities are better dealt with by emails only!!
Why wouldn’t he want to sell the condo with tenets something is fishy wonder if he has money problems
what do you think Dave about latest boom on those other currencies??
The same thing
What's the fee for you to terminate the lease early. Ask double.
CANDICE?!?!!
A tea lol
Who is this Candice ? 😂😂😂
Stay put for a year. Tell the landlord to go shove it, you both agreed to the lease!
Sorry but that sounds like fake data.
Who’s Candice?
Dave still thinks you can actually get someone who knows what they’re talking about on The phone from most major companies lol
That may very well be the case for his company, but for most companies I work with your lucky to even get past the bottom, much less to someone with the power to actually fix something.
Dave's suggestion is perfectly reasonable for both of them
Kind of, but it's less reasonable for her. She's basically stuck in limbo until he actually sells the place. How can she even start looking, much less securing, another place until she knows when she has to go? How is she going to come up with a deposit on another place since the $2k wouldn't be due until the condo sale closes, which takes weeks and months? No, she needs to get a bit more from this deal to make it work.
Say no queen. Flip him
Sup
Candice... small price to pay for salvation..
So, can you buy the condo?
Renters don't have many rights. If you like the condo,.buy it
She said she was offered. But, she wouldn't because the condo need a lot of work.
@@kellyy9349 plus a lot of times the HOA fees are ridiculous. That's in addition to the mortgage, insurance, and real estate taxes.
"Nobody writes love letters anymore!"
Because if you did, people would consider you to be cringe And weird nowadays.
"Just pick up the phone and call them! You can't do stuff over text!"
Outside a business/work/your mom, a lot of people won't answer phone calls. Even a lot of work situations, they'd rather have a text then a phone call.