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Updated over 5 years ago,
Breaking a residential lease in Colorado.
Hi everyone. I would like to relocate to a different part of the state within the next month or two, but unfortunately, I am under lease through March 2020 at a single family home in Fort Collins, CO at $ 2,500 a month. I informed the property management company of my desire to relocate and break my lease and was told that they "will make every effort re-rent the property. We will start marketing the home today and as soon as we can find another tenant.. we will release you from your lease."
Unfortunately, they have priced the new rent at a 75% increase and are asking $ 4,000 a month, which they will never get. I believe this is a power move by them to keep me in place. It seems to me that the percentage of increase should be legally capped in this situation as what would be stopping a landlord from charging $ 20k a month on a property just to hold the tenant to the terms?
After reading the lease, it doesn't say anything about an early move out, subleasing or whether or not there are penalties associated with it. I know with Henderson Property Management, who manages my rental properties in Greeley, the tenants are obligated to pay for 60 days after notice, but they do not hold their tenants liable for the lease end date.
Any insights on this situation would be appreciated.