I am in the process of buying a home and will soon need to break my lease on my apartment. I understand that penalties are usually involved however my complex is going to be demoed in the next year and a half. After September no one can re-new their lease and the only option is to go month to month. Is there some kind of catch here that would prevent me from having to pay penalties or the remainder of my term?

You mean demolished? When does YOUR lease expire.

But no, the fact that the complex is going to demolished, does not free you from your obligations. In fact, it makes it worse, because the management company will not be able to relet the unit leaving you on the hook for the rent until the end of the term. On the other hand, they may not impose a penalty.

Have you spoken to the them about terminating your lease early? Is there any early termination clause in your lease?