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Updated over 4 years ago on . Most recent reply

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Tristan Williams
  • Investor
  • Philadelphia
0
Votes |
4
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Lease termination fee

Tristan Williams
  • Investor
  • Philadelphia
Posted

Hello Biggerpockets community,

I have been renting from my apartment since 09/01/2019 and signed a new lease starting 09/01/2020 to 09/01/2021 on 12/20/2019. Due to Covid-19 my two roommates lost their jobs and I want to move into a 1BR apartment as they will no longer be able to afford rent. I emailed my landlord and it appears they want to charge me (2) months rent for an "early termination fee" which is not in the lease to which they said it is given as a "curtsy". They want the fee to be paid and then they want me to provide marketing materials to help them lease the apartment out. After telling them I would not provide any help if they are charging me a fee they came up with a "refund" of (1) months rent if the apartment is lease to new tenants before 09/01/2020. I told them that I would be willing to provide marketing material for free (they cant get marketing materials due to covid) and will reimburse them for any marketing expenses. Is this early termination fee legal for them to do? it appears they are coming up with this fee on the spot and they also came up with the refund on spot with no negotiation. I live in Philadelphia.

Thanks,

Tristan

Most Popular Reply

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741
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Kathy Henley
  • Rental Property Investor
  • St. Louis, MO
424
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741
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Kathy Henley
  • Rental Property Investor
  • St. Louis, MO
Replied

Check your local housing laws @Tristan Williams. The rental agreement is the boss, unless your local laws say something different. With current events, your move makes perfect sense. These same current events are hurting your LL. Any help that you give in marketing the place will be appreciated. They need to find new tenants ASAP. Keep talking with your LL and work something out. 

My rental agreements include the cost of breaking a lease as being 4 months rent. 

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