[Sarahso23]

Hello!

This is my first post, so bear with me please.
I have lived in the same apartment for 3.5 years in St. Louis MO. A few months ago I told my landlord that I was looking to purchase a home. He told me I couldn't terminate my lease. However, if I allowed him to act as my agent he would allow me to break my lease. Well, he sold the building and doesn't return calls. The new management left a note under the door announcing themselves.
Anyway, I found a home and am closing in a month. I called the new landlords and they told me I could not break my lease and nothing in my lease allows for it to be broken. They said my lease agrees to pay a certain amount for all 12 months. She then went on to say that their office policy breaks leases for two months rent and sacrifice of my security deposit.
How can they follow my old lease, but then turn around and say that with their policy I can break it for so much money? I signed nothing with them. The first line of my lease states it is between XXX and XXX. Not their company.
I told her I was going to look into what rights I have. She replied snidely that she is a lawyer and that I was bound.

Any advice? Should I see a lawyer?

[Fr_Chuck]

Nope, when they buy a building, they assume the leases, and your lease is still in effect with the new owners, So yes, not only do they have to honor the lease ( can't kick people out or raise their rents) you also have to follow the lease.

Assuming this is a larger management company, they may have a policy, that they allow you to break the lease for a set penalty, And that is a two month rent payment. This can be good or bad.
First they are obligated to try and rent your apartment when you move out, and if they would rent it with it only being empty one monty, you only owe one month rent, but if it sat empty 4 montys you would have to pay the 4 months rent. In some states ( I don't think MO is one of them) there is no obligation to rent out the apartment, and they may just hold you liable for it.

But you are obligated to them for the lease, sorry not what you wanted to hear.

[ScottGem]

I'm a little confused here. You had a VERBAL agreement with your landlord to allow you out of the lease if you allowed him to act as your agent in buying a house. And you think the new owners are bound by this agreement?

As Chuck noted, when they purchased the property, they assumed all leases. So it doesn't matter what the lease says about who the agreement is with. You have a lease with the owners of the property and you AND they are bound by the terms of that lease. I'm assuming, since you have been there 3.5 years that the lease has 6 months to run.

Now, the new owners apparently have a buyout policy. They can legally offer you something that is not in the lease, they can't do something that isn't in the lease without your agreement. Unless the lease allows for sublets, I would recommend taking advantage of the buyout. Because you have no grounds to break the lease. So either you sublet it, pay the buyout or hope that they can rent it quickly. Those are your only options.

[Sarahso23]

That's what I was afraid of. Thank you both for your answers.
Maybe you can help with a few more questions? If I can sublet, what is the best way to go about it? Do I draw up a contract or would the landlord do so? Do I only ask the amount of rent that I am currently paying? Or could I charge an extra $50 and at the end of the six months return that to the tenant as a security deposit?

[ScottGem]

Any sublet is between you and sublet tenant. The landlord doesn't get involved. What rent you ask for is up to you.

I would get a lease form from a office supply store and I would charge a security deposit.

[Sarahso23]

Hello again,

Final questions (I hope this is it):
I talked to my landlord. She said I could sublet, but they would do a credit check and background check on the new tenant. Is that common practice?
My other option to get out of the lease is to forfeit two months rent and my security deposit. Why would I lose my security deposit?
Do I need to give my landlord 30 days? And if I'm losing my security deposit, do I need to go crazy cleaning the place up?

Thank you all for your help!

[ScottGem]

Yes it is common practice to check out new tenants. Didn't they do that for you?

Unless there is a buyout clause in your lease, the landlord can offer any buyout terms they want. You can either accept their offer, try to negotiate different terms or decline the offer.

Yes, you still need to give notice. And yes you still need to prepare the unit. You would still be liable for any costs to prepare the unit for the next tenant. Without a security deposit to cover those costs (since its being used for another purpose) they would come out of your pocket.