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October 8, 2008
You Break, You Pay (the Lease, the Rent)
Renters used to feel free to break their leases, at least in desirable areas where a vacancy meant a landlord could charge more next time around. In case there was any doubt in your mind, City Limits clears it up: "A landlord is not required to find a new tenant, and can sue for the rent due for the remainder of the lease," they write. A State Appeals court case set the standard: a Queens resident stepped out early, and the landlord sued him for the rest of the rent — and won. The piece ends with advice to renters: give your landlord lots of notice, and tell him you know someone nice to move in.
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Comments
Don't forget that the landlord still has to decide whether it's worth the time and legal expense of pursuing the tenant.
Posted by: itsagas at October 8, 2008 11:03 AM
It may not be worth it for just one or two months rent but anything over that is probably worth pursuing. Despite hearing horror stories, I have only had one deadbeat tenant. After all was said and done I was able to get a judgement against the tenant for a substantial amount. The tenant didn't pay it until about four years later when he was trying to obtain a mortgage to buy a house and it appeared on his credit in the civil record.
Credit worthiness will be even more important now.
Posted by: Just Wondering at October 8, 2008 11:42 AM
Two words, Midnight Move.
Posted by: Xander Crews at October 8, 2008 1:17 PM
How 'bout a Part Duece for the sales contract?
Posted by: DOW8000SP800 at October 8, 2008 2:06 PM
I'd agree that it used to be no problem to break your lease early, and with very short notice, as most landlords welcomed the opportunity to get a new tenant in there with a higher rent. But they always had the right to go after you--it happened to someone I know and she was pretty shocked that he was pursuing her for the money.
Posted by: Carol Gardens at October 8, 2008 5:26 PM
Collection agencies are more than happy to take such defaults for percentage, and they are very fast and effective.
Posted by: gadzooks at October 9, 2008 2:04 PM
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