You are in a bind because you may get shafted on your deposit, and/or be forced to move on short notice. At the same time, your landlord is in a bind because if you move or demand your current deposit be immediately applied to rent (one approach you could offer now), he stands to lose.
Here’s another approach out of left field: Offer to rewrite the current rental agreement at 80% (or 90%) of the current monthly rent, on a month-to-month basis. He gets to keep cash flow until he loses the property, which could be a year or two at current rates. He doesn’t have to deal with a month or two of vacancy before finding a new tenant (whom he’d have to decide whether or not to inform about the default), so money-wise he is neutral or ahead. As for you, you get to bank the rent reduction for what could be a long time and still have the flexibility to move on a month-to-month basis.
Piggs, what do you think? Slings and arrows welcomed.
