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Updated over 8 years ago, 08/02/2016

User Stats

13
Posts
4
Votes
James Mccarthy
  • Real Estate Investor
  • Aurora, CO
4
Votes |
13
Posts

lease break Emergency

James Mccarthy
  • Real Estate Investor
  • Aurora, CO
Posted

Hey all this is my first post, I am new to this site and may not understand all the rules just yet but please humor me as I am in a situation. 

I am in a 2 bed rental with 2 adults and a 7 year old boy in Colorado (3 tenants). I have been here for 4 years and just signed a forced lease to be able to maintain reasonable rent as not signing rent would had cost me an additional 4-500 a month and was getting out of control. So I signed a lease for 12 months out of necessity. Now in the midst of this I have had a custody issue for my 2 girls over the same 4 years which now I am about to get full custody, if I have both my girls I face immediate eviction and we are all homeless. I read the Colorado laws on breaking the lease and it doesn't seem that I can get out of it. I have to have my children in a home with me, how do I do this? I have read over my lease agreement and found the section talking about breaking the lease they will charge me 3 grand. I am not understanding fully how this works, posted is part of the lease section that I don't understand.  Are they going to charge me 3 thousand dollars on top of the 10 months of rent ? Or is this just a reasonable fee so they can find replacement and I can leave on good terms with reasonable notice?  

Please help I face eviction if I have my girls but what to do if I can't get out of lease. I was planning on buying a house at the end of the lease if I could but if I have to rent again I can't have an eviction an expect to be able to get another place to rent.

LEASE BREAK FEE

Resident shall be liable to Agent for a lease break fee plus for the repayment of any Lease concessions if for any reason

prior to the end of the Lease Term, any extension, or renewal, Resident vacates the Premises for any reason without fully

performing all Lease covenants including Resident's covenant to pay all rent due under the Lease (hereinafter "Lease

Break Event"). Upon the occurrence of a Lease Break Event, Resident shall pay a lease break fee in the amount of

$2,288.00 as well as pay, repay, or refund any Lease concessions in the total amount set forth in any Lease Concession

Addendum. Unless Resident vacates pursuant to statute, Resident shall pay and otherwise be liable to Agent for the lease

break fee plus the repayment of any Lease concessions upon the occurrence of a lease break event regardless of the

circumstances which Resident vacates including but not limited to voluntary surrender, at the request of Agent as the result

of Resident's default under the Lease, as the result of an eviction or forcible detainer proceeding, or otherwise. Resident

agrees that the lease break fee is a liquidated damage amount agreed to by Resident in consideration of, among other

things, Agent's waiver to seek from Resident future rent for the entire amount of any uncompleted rental term, plus

re-letting related fees, costs, and expenses in the event of Resident's default. Resident's agreement to pay the lease break

fee and repay any concessions shall under no circumstances release Resident for any liability to Agent under this Lease

for any other charges or amounts due including but not limited to utilities, or any damages to the Premises, and Agent shall

retain all remedies for other non-compliance with the Lease. Resident agrees the lease break fee only relieves Resident

from liability for the future payment of base monthly rent and re-letting related costs and expenses.

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