Negotiate Lease Renewal
My husband and I are currently renting ‘technically’ in Park Slope, although it is certainly the outskirts. We are looking to buy an apartment – but as we are pretty comfortable in our rental apartment, there is no rush. Our lease is up May 1st and I was wondering if anyone had any experience trying…
My husband and I are currently renting ‘technically’ in Park Slope, although it is certainly the outskirts.
We are looking to buy an apartment – but as we are pretty comfortable in our rental apartment, there is no rush.
Our lease is up May 1st and I was wondering if anyone had any experience trying to change the terms of the lease that would allow us to get out of the lease (without any penalty) if we provided 60 days notice?
We are currently in a new building with a mgmt company and are paying $3100 for a 2 bedroom (including our parking spot).
We thought at first we might try to negotiate down the rent, but we really just want to be able to jump on an apartment we like and be able to move out without being held to the lease.
Any input / advice would be greatly appreciated!
I recently negotiated a 60-day termination clause, but it is only activated if I relocate for job reasons (in this market the reasons for asking for this should be obvious). My building is owned by a couple, not a management company.
If you want something from someone talk to them about it. In this market there are no rules any more. We saw in a post earlier today that landlords who don’t adjust quickly are losing tenants and risk having no rental income at all while their apartments sit vacant.
My tenants just informed me that they will be breaking their lease 4 months early. So if you need a short-term sublet we can work with you. It can take a few months to close on an apt in any event. The rent is $3,000 and is in South Park Slope. If interested, you can give me your email and I will send you the details. Or I can send you mine – either way.
Our (great!) tenants just made a similar request for the same reason, and we were happy to oblige–fitting in a 90-day clause. However, we’re NOT a management company.
In any case, your request is reasonable. Good luck.
Ask for a month to month lease or an out clause (30 days, 60 days, etc).
Generally leases do not offer out clauses, but the mgmt co. might let you add one as a rider to the new lease. But they do not have to, so don’t be surprised if they say “sign a 1 year lease and stick to it or move May 1”.
Good luck
As the mgmt company if you can go month to month instead of signing a renewal lease. Their answer will probably depend in large part on whether they think they can replace you quickly as a tenant if they say no.