Ask Me Help Desk - Exit lease before move in

Good day,

I live in portland Oregon. My wife and I are separating, and I am in the process of
Finding a new place to live. On Friday, April 11, I found a place and signed the lease,
For a move-in date of April 17.

In my distress over the situation with my wife, I chose an apartment that was out
Of my price range. I am wondering if there is any sort of back-out time in which
I can exit the lease, and if so what sort of penalties I could expect to incur.

I already know that I should not signed a document in that state of mind, I am
Trying to not get into a situation where I can't afford the rent, and then have more
Problems on top of an already stressful domestic situation.

Thank you for your time,

- doug

[QUOTE=xdsmx]good day,

I live in portland Oregon. My wife and I are separating, and I am in the process of
Finding a new place to live. On Friday, April 11, I found a place and signed the lease,
For a move-in date of April 17.

In my distress over the situation with my wife, I chose an apartment that was out
Of my price range. I am wondering if there is any sort of back-out time in which
I can exit the lease, and if so what sort of penalties I could expect to incur.

I already know that I should not signed a document in that state of mind, I am
Trying to not get into a situation where I can't afford the rent, and then have more
Problems on top of an already stressful domestic situation.

I can't find any provision that allows for a cancellation of a contract - which a lease is - or for a lease in Oregon. There is a provision for in-home sales but that is certainly not the case here.

Does the lease have any provision for early cancellation or withdrawal?

There are provisions for a mutual cancellation - have you expressed your concerns to the landlord? He/she would have to attempt to rent the apartment in order to mitigate damages and so maybe for one month's rent he/she would let you out. Hopefully that would be all the rent the landlord would lose.

Quote:

Originally Posted by JudyKayTee

I can't find any provision that allows for a cancellation of a contract - which a lease is - or for a lease in Oregon. There is a provision for in-home sales but that is certainly not the case here.

Does the lease have any provision for early cancellation or withdrawal?

There are provisions for a mutual cancellation - have you expressed your concerns to the landlord? He/she would have to attempt to rent the apartment in order to mitigate damages and so maybe for one month's rent he/she would let you out. Hopefully that would be all the rent the landlord would lose.

The termination fee is one months rent, which, upon reading some of the other posts here,
Seems generous. The lease is for a one (1) year term.

I have attempted to contact the landlord, and am awaiting their call back. Hopefully they'll
Show some pity on a sap like me, but I'm not betting on it. I should have been more clear-
Headed before signing something.

So, at best, it sounds like I'd be out the months rent that I've already paid ?

Thanks very much,

Quote:

Originally Posted by xdsmx

the termination fee is one months rent, which, upon reading some of the other posts here,
seems generous. the lease is for a one (1) year term.

i have attempted to contact the landlord, and am awaiting their call back. hopefully they'll
show some pity on a sap like me, but i'm not betting on it. i should have been more clear-
headed before signing something.

so, at best, it sounds like i'd be out the months rent that i've already paid ?

thanks very much,

Right, looks that way to me and it seems generous - the landlord will probably lose some rent but you won't have to pay some severe penalty.

(Sorry about the divorce; you're not supposed to make any decisions while under stress but what's a person to do - ?)

Quote:

Originally Posted by JudyKayTee

Right, looks that way to me and it seems generous - the landlord will probably lose some rent but you won't have to pay some severe penalty.

(Sorry about the divorce; you're not supposed to make any decisions while under stress but what's a person to do - ?)

Thanks very much for the answers. Yes, lesson learned, don't sign things under duress.

- dsm