Hello BP Community!
Background: My wife and I moved into an apartment and signed the lease on December 10, 2019. We sign a 12-month lease and the apartment complex was running a promotion where the first month was free. Everything on the original lease is dated December 10th, 2019.
On Page 6 of the Apartment Lease Contract, the Special Provisions portion states: "Market rent: $2299 = Total Monthly Rent: $2299. Resident will receive $2299 off for the month of December 2019. Concessions must be reimbursed if lease contract is not fulfilled. Management reserves the right to revoke the lease term concession if payment is received after the 10th of any month..." and then it just list additional attachments. I'm not sure if it matters but the Lease Contract Buyout Agreement is not listed in this section as an additional attachment.
Later on in the packet is the Lease Contract Buyout Agreement which is the page that they are wanting us to sign and return to them. The differences between the copy that they are requesting and the original I have on file are:
1. The amended date says January 17, 2020 and not December 10, 2019.
2. The dollar amount in section 5 (listed below) states $0.00 on the original but $2299 on the amended.
My question is basically, should I sign this amended form? It seems no harm no foul but I don't know if them missing this dollar amount in this one section would actually save me from needing to pay back that free month. We are trying to buy a house and had asked them several weeks ago what we would need to do if we wanted to cancel our lease early. Additionally, would the date saying January 17, 2020 actually put us on the hook until January 17, 2021 instead of December 10, 2020?
Thank you for any and all advice!
"4. Buyout Procedures. You may buy out of the Lease Contract prior to the end of the lease term and cut off all liability for paying rent for the remainder of the lease term if all of the following occur:
(a) you give us written notice of buyout at least 60 days prior to the new termination date (i.e., your new move-out date), which may be during the month;
(b) you specify the new termination date in the notice, i.e., the date by which you'll move out;
(c) you are not in default under the Lease Contract on the date you give us the notice of buyout;
(d) you are not in default under the Lease Contract on the new termination date (move-out date);
(e) you move out on or before the new termination date and do not hold over;
(f) you pay us a buy-out fee (consideration) of $4598;
(g) you pay us the amount of any concessions you received when signing the Lease Contract; and
(h) you comply with any special provisions in paragraph 9 below.
5. When Payable. The buyout fee in paragraph 4(f) is due and payable no later than 30 days after you give us your buyout notice. The total dollar amount of any concessions regarding rent or other monetary lease obligations for the entire lease term is $0.00 and is due payable on the same day as the buyout fee, subject to any special provisions in paragraph 9 regarding the amount, calculation method, or payment date.
...
9. Special Provisions. Your right of buyout is not limited to a particular fact situation. If limited, buyout may be exercised only if you comply with Paragraph 4 herein AND you comply with all of the below additional provisions. Any special provisions below will supersede any conflicting provision in this printed agreement. Any false statements or documents presented to us regarding buyout will automatically void your right to buyout of the Lease Contract. The special provisions are: Any concession or special must be reimbursed if lease contract is not fulfilled."
