Breaking Lease Options

[Jason Stephens]

Hey all, I currently live in an apartment. My lease is up on 15 August, and I just made an offer (17 April) on a house in my area. Assuming the offer is accepted, we are planning on closing sometime between 1 June and 15 June. This house is for me to live in, though it will end up as a rental in a few years. 

The lease for my apartment clearly states that they want a 60 day notice that I'm leaving and the early termination fee is 2 months rent. If my offer on the house is accepted and I give the apartment manager my notice today, I will have to be out of the apartment around 17 June and pay 2 months rent as an early termination fee. I'm at the point where, by the letter of the contract, I'm going to be paying 2 months of rent no matter what I do. This was budgeted into my plan, but obviously I'd prefer not spending an extra $2k if I don't have to. 

I'm looking for suggestions on how to spin this for the apartment manager's so that I don't have to pay the full early termination fee. 

Thanks,
Jason

[Nathan Gesner]

Communicate and negotiate.

In most states, the Landlord has a duty to find a new renter. They can only hold you liable for rent up until the new tenant moves in. Some suggestions:

1. As if they'll reduce the termination fee to one month since you are giving them 60 days notice to prepare.

2. Offer to keep the rental show-ready so it's easy for them to market and find a replacement tenant. If you help them reduce losses, it's easier to let you go.

3. Walk away. They can apply your deposit to the unpaid rent and will likely find a new tenant to move in shortly after you vacate.