OT: Rental Lease Agreements

[New Guy]

I am looking to get into a new rental as the one we are in now is in a terrible area. Also, with a new kid in tow, we are busting at the seams at our current place.

What recommendations do you have on how should I approach a lease agreement in terms of having the flexibility to buy a house in the next 12 months?

Assuming I enter into a 12-month lease, what are the consequences of breaking the lease? I’m assuming I’d lose my deposit but what other recourse is there? Is this something that can be reported to the credit bureaus?

I do not intend on breaking the lease but was just curious what the consequences are and wanted to have some foresight in case the right deal came along.

Any input would be appreciated.

[Wickedheart]

You are responsible for your rent till the end of the lease. And yes it can be reported to the credit bureaus if you don’t pay. If you want flexibility go month to month.

[Wickedheart]

You are responsible for your rent till the end of the lease. And yes it can be reported to the credit bureaus if you don’t pay. If you want flexibility go month to month.

[Wickedheart]

You are responsible for your rent till the end of the lease. And yes it can be reported to the credit bureaus if you don’t pay. If you want flexibility go month to month.

[Wickedheart]

You are responsible for your rent till the end of the lease. And yes it can be reported to the credit bureaus if you don’t pay. If you want flexibility go month to month.

[Wickedheart]

You are responsible for your rent till the end of the lease. And yes it can be reported to the credit bureaus if you don’t pay. If you want flexibility go month to month.

[DataAgent]

Negotiate a ‘buyout clause.’ Something like one month rent in exchange for the right to break the lease at any time during the lease. Or maybe offer to pay a higher monthly rent in exchange for the right to break the lease with 30 days notice. Some landlords are flexible with their lease arrangements. Some aren’t. Doesn’t hurt to ask.

[DataAgent]

Negotiate a ‘buyout clause.’ Something like one month rent in exchange for the right to break the lease at any time during the lease. Or maybe offer to pay a higher monthly rent in exchange for the right to break the lease with 30 days notice. Some landlords are flexible with their lease arrangements. Some aren’t. Doesn’t hurt to ask.

[DataAgent]

Negotiate a ‘buyout clause.’ Something like one month rent in exchange for the right to break the lease at any time during the lease. Or maybe offer to pay a higher monthly rent in exchange for the right to break the lease with 30 days notice. Some landlords are flexible with their lease arrangements. Some aren’t. Doesn’t hurt to ask.

[DataAgent]

Negotiate a ‘buyout clause.’ Something like one month rent in exchange for the right to break the lease at any time during the lease. Or maybe offer to pay a higher monthly rent in exchange for the right to break the lease with 30 days notice. Some landlords are flexible with their lease arrangements. Some aren’t. Doesn’t hurt to ask.

[DataAgent]

Negotiate a ‘buyout clause.’ Something like one month rent in exchange for the right to break the lease at any time during the lease. Or maybe offer to pay a higher monthly rent in exchange for the right to break the lease with 30 days notice. Some landlords are flexible with their lease arrangements. Some aren’t. Doesn’t hurt to ask.

[LAAFTERHOURS]

Dont rent from an apartment management company. Instead rent directly from a home owner and tell them upfront that you may purchase in the next 12 months but you will give them plenty of notice (as soon as you enter escrow maybe). Also offer to help them show the rental while you are still there and help list the place on craigslist.

I have done this with my current landlord. Best thing to do is to communicate your intentions up front.

[LAAFTERHOURS]

Dont rent from an apartment management company. Instead rent directly from a home owner and tell them upfront that you may purchase in the next 12 months but you will give them plenty of notice (as soon as you enter escrow maybe). Also offer to help them show the rental while you are still there and help list the place on craigslist.

I have done this with my current landlord. Best thing to do is to communicate your intentions up front.

[LAAFTERHOURS]

Dont rent from an apartment management company. Instead rent directly from a home owner and tell them upfront that you may purchase in the next 12 months but you will give them plenty of notice (as soon as you enter escrow maybe). Also offer to help them show the rental while you are still there and help list the place on craigslist.

I have done this with my current landlord. Best thing to do is to communicate your intentions up front.

[LAAFTERHOURS]

Dont rent from an apartment management company. Instead rent directly from a home owner and tell them upfront that you may purchase in the next 12 months but you will give them plenty of notice (as soon as you enter escrow maybe). Also offer to help them show the rental while you are still there and help list the place on craigslist.

I have done this with my current landlord. Best thing to do is to communicate your intentions up front.

[Author]

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