Can a lease be amended after the start of a lease?

Can a lease be amended after the start of a lease?

Portsmouth, VA · Member since 2017 · 12 posts · 0 votes

So my lease started as of July 1st. It is a one year lease, and I just bought a house (it was something I couldn't pass on). Now, I am trying to get out of my lease. I asked to amend the lease, say to 3-4 months at a higher rate per month, then resolving me from my liability for the remaining 8-9 months of the lease. They said that since the lease has started they cannot amend the lease due to the Fair Housing Act. I am still new to this, but this seems untrue. I don't see where it states that if all involved parties agree to the amendment to the original lease, that it cannot be change.  I suppose that the only way it can be interpreted that way was if they did it for me and didn't for someone else? Can someone help me out here?

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  • Investor · Bayside, NY · Member since 2017 · 1k+ posts · 1k+ votes
    9y

    Under the fair housing laws in most states, you are bound by the leases in existence at the time of purchase. From what I recall, the Federal law sunset-ed a few years ago, and had not been renewed as far as I know.

    So, the long and the short of it, you have to honor the lease till expiration.

  • Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    9y
    I say BS, it's just an excuse. Does your lease have a cancellation fee(2-3 months payment)? Can you sublease? In any event, generally if you break the lease they have to attempt to release it, and you are only liable for the time it was not rented, and releasing costs.
  • Investor · Bayside, NY · Member since 2017 · 1k+ posts · 1k+ votes
    9y

    Sorry, I misread your post. Thought you bought a property with an existing lease.

    In that case, you can try sublet as suggested above. Read your lease and see if there are cancellation penalties.

  • Investor · Jasper GA · Member since 2015 · 1k+ posts · 1k+ votes
    9y

    @Eric M.

    Why don't you see if the PM will allow you to help find another tenant and pay a months rent or so to get out of this situation.  They don't know what they are talking about the Fair Housing Act.  They can hold you to then lease, but they have the ability to amend it with your approval. 

    Is this a PM or a small LL?  

  • Portsmouth, VA · Member since 2017 · 12 posts · 0 votes
    9y

    @Bob B.
    This is an apartment complex. I think it is a PM but I'm not sure.

  • Mindy JensenPro Member
    BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
    9y

    @Eric M. , does your lease include a break lease clause? Most large apartment complexes include one, and the fee is usually 2 months of rent.

    Do you have an owner-occupant clause in the loan on the house you bought? If not, could you rent that property out until your lease is up?

    Today is July 12, have you already closed on the new property? The timing seems a little off...

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