Saturday, November 22, 2014

What happens if I break an apartment lease in Texas

First question you should really ask yourself is what happens if you break your apartment lease anywhere in the United States? That's right, you will face financial consequences for such actions, and of course a lot of unnecessary headache. How so?

break an apartment lease in Texas

If you're currently just concerned about breaking your lease in Texas, then I should make you aware of a Texas Apartment Association website where you can find answers on issues on what happens during the lease break.

However, I could summarize for you some of the issues you would be facing. You've got to remember, that most if not all contracts are legally binding ones and they're really hard to break, unless you want to face a penalty.  Most of the common type of excuses folks have when they need to break the lease and come to speak with a leasing manager are as follows:

  • Moving to another city for a job
  • Getting a divorce
  • Buying a new home

Unfortunately, your leasing manager would simply pull out your leasing agreement that you had originally signed and point to you the clause where it states that neither one of these excuses are legitimate enough to break your lease without penalty.  Now, there are some reason that are legitimate, and they are:
  • if you end up being a victim of domestic violence
  • if you're military personnel and being deployed somewhere else
These are the only ones that your leasing manager would not be able to argue with because he would lose against you in a small claims court because Texas Apartment Association would actually defend you and be on your side.

Just like in any state and not just in Texas, you would be expected to give your landlord a two months notice.  If you don't, then your landlord would expect you to pay a two months rent to break your lease and let you leave in piece.  If you still don't want to pay a fee equivalent to a two months rent, then you landlord will most likely file a suit against you in a small claims court where the judge will likely order you to pay full rent or at least the fee set by a landlord.  And if after that you don't follow the judge's order, then you're facing to have your Credit report fully blemished.  This by far is the worst thing to have in America.  Your credit - is like your business card.  You should never blemish it.

Hopefully this somehow explained to you what will happen if you break an apartment lease in Texas.  You should always be cautious about these things and plan your move right.

Sunday, November 9, 2014

How to get out of lease when buying a house

Your plans change from time to time.  Today, you're happy to sign an apartment lease and move in there with your friend, boyfriend or girlfriend.  A few months later, you decide that you want to make an investment and buy yourself a house.  Well, all of a sudden it hits you and you realize that you recently signed year long apartment lease with your landlord.  Oops!

How to get out of lease when buying a house

how to get out of lease when buying a houseIf you still have several months on your apartment lease before your lease expires, you should definitely come down to your leasing office and speak with your landlord.  Explain the situation and see if your landlord can get you out of your lease without serious financial damages.  Your landlord will most likely tell you that to avoid breaking your lease and paying early termination fees, you should be able to find a replacement tenant.  

If i'm planning to buy a house in the future, should I sign a 12 month lease?

The answer is clearly no.  You don't want to be stuck in an apartment lease already knowing that 4-5 months down the road, you'll have to move out of it.  Talk to your landlord and see if your landlord would agree to a shorter lease term. This would save you a lot of money down the road.