Hello all! I am currently considering terminating my lease early, and would love some insight from those with a few more wrinkles on their brain. After reading through the lease, it appears that if I give a proper 60 day notice, pay the liquidation fee as well as the final 30 days of rent, I wont have to worry about any additional charges?
Location: MO
Here is the Termination section of the lease:
3.5. Termination. Resident may terminate this Lease at the end of the Lease Term only by providing Landlord sixty (60) days’ prior written notice of Resident’s intent to vacate. Landlord may terminate this Lease at the end of the Lease Term by giving Resident sixty (60) days’ prior written notice or as otherwise permitted herein, unless excluded by state or local law, see state, city, or county addendum for more information If the Resident provides notice of less than sixty (60) days of the intent to vacate, this will be considered late notice, as an Insufficient Notice Fee, and the Resident will be charged Rent through the full sixty (60)-day notice period, prorated through the notice period.
3.6. Early Termination. Resident is prohibited from terminating this Lease early unless allowed by federal, state, or local law. If the Lease terminates for nonpayment or other listed defaults, or if Resident terminates this Lease early, the Resident must provide at least thirty (30) days’ notice and the Resident will be charged Rent through the full thirty (30) days and an additional Early Termination fee payable prior to Document digitally signed using (Redacted Company Name) eSignature services. Vacating to the Landlord in the amount of $3,170.00, as liquidated damages. If Resident violates the Lease by failing to resolve the Lease Violation within the required time period as provided in the Lease Violation Notice or commits a Material Lease violation as defined in the Lease as material noncompliance (see below), requiring immediate termination of the Lease per the Notice, Resident will incur the Early Termination Fee.
3.6.1. Resident agrees that the Early Termination Fee is a liquidated damage amount agreed to by Resident in consideration, among other things, Landlord’s waiver to seek from Resident future rent for the entire amount of any uncompleted Lease term, plus re-leasing related fees, costs, and expenses in the event of Resident’s default. For the reasons stated and because the re-renting of the Property after Resident breaks this lease cannot be determined with any certainty, Resident agrees that the Early Termination Fee agreed to be paid by Resident upon the occurrence of an early termination represents a fair amount and method to allocate the numerous risks and liabilities regarding future rent and re-leasing damages between Resident and Landlord. Resident agrees the Early Termination Fee only relieves Resident from liability for the future payment of base monthly rent and re-leasing related costs and expenses. Resident’s agreement to pay the Early Termination Fee and repay any move-in or renewal concessions, shall not under any circumstances release Resident for any liability to Landlord under this Lease for any other charges or amounts due under the Lease, including but not limited to unpaid utilities, cleaning charges, or any physical damages to the Property, and Resident shall at all times remain liable for said amounts or any other breaches of the Lease.
My family and I appreciate anyone willing to help look into this! If all I need is around 5 grand to escape this place, then count me in.
Comments
NAL It looks like if you terminate early you will have to pay an early termination fee and liquidation fee. Section 3.5 only talks about terminating at the end of the term. 3.6 talks about early termination.