Breaking a residential lease in Colorado.

Breaking a residential lease in Colorado.

Member since 2018 · 1 post · 0 votes

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.  

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  • Member since 2019 · 85 posts · 26 votes
    7y

    Well, there is no law that caps the amount a landlord can ask during the replacing a tenant process. However, the landlord is legally required to mitigate an outgoing tenants damages, which any reasonable person, including a judge, would agree asking 75% more than what you are paying is not really trying to find a new Tenant.  I recommend you document all the online marketing they are doing, including when they started, and then sit down with them and chat thru it.  

    Maybe you could offer a buyout?  Pay a month penalty and the lease is cancelled?

    Happily chat more.  LMK

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