I am an 80-year-old, semi-retired Realtor of 28 years. I recently rented an apartment in a rental apartment building managed by a professional management company. After a month in the apartment, I had medical issues come up requiring me to leave and move out. These medical issues prevented me from driving and required surgery. I needed to be near friends and in a senior community.
Whether the landlord was out of pocket doesn’t negate your requirement to pay the penalty. You never know what a local rental market might be like. There are times when a tenant breaks a lease and it takes the landlord months to re-rent the place. When that happens, the landlord may be able to go after the tenant for the duration of the vacancy along with other expenses in trying to re-rent the property.
When some of these situations are possible, or even foreseeable, a prospective tenant will try to negotiate a termination right with the landlord. In some situations, the landlord may agree to the early termination but may request a termination penalty or some fee to cover the landlord’s expenses in re-renting the home.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Office loan delinquencies hit 5% in more commercial real-estate woeOffice loans just hit a 5% delinquency rate – a 20-month high – as WFH and rate rises pile more pressure on commercial real estate
Source: BusinessInsider - 🏆 729. / 51 Read more »
Real estate investing strategy: How to set up, operate midterm rentalsA financially independent property investor who has experimented with rentals of all lengths explains why midterm leases are the 'sweet spot' in real-estate investing.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: PhillyDailyNews - 🏆 89. / 67 Read more »
Source: latimes - 🏆 11. / 82 Read more »