5 ms·

That's fine. I just think it's a good idea to have that fund in case I get fired, company closes (startup, series B), etc.

by _RPM 10y ago

closeparen 10y ago
If your parents are willing to let you live with them, why not just save the cost of exiting your lease (mine is 1 month's rent) and U-Hauling your stuff back home? Or would you not be able to go back once you left?
- _RPM 10y ago
  My parents tell me I can stay at home forever. I'm not sure about this type of contract. Is it common to have a clause that allows you to "exit the lease"? If so, how would I go forward with asking the people about this without seeming high risk?
  - closeparen 10y ago
    The lease should specify a fee, large enough to deter you from walking away for a slightly better deal, but (generally) smaller than paying rent for the remaining months. Giving the required notice (mine is 30 days) and paying the fee lets you terminate the lease early while still fulfilling your legal obligations. It's there primarily for people who need to move because of work, and usually the employer who is relocating them would reimburse it. So, you could probably ask something like, "what if I get transferred to a different office before 12 months is up?" That will signal some risk that the landlord will have to find a new tenant. My landlord is a REIT, and I live in a large complex with 2 full-time leasing agents onsite, so finding new tenants is not a huge burden for them - they're fine with high turnover. A mom-and-pop landlord might be skittish about that possibility. But it is still better than "what if I can't pay rent because I am unemployed?" Definitely don't ask that :).
  - deleted 10y ago
    [deleted]
  - beachstartup 10y ago
    > If so, how would I go forward with asking the people about this without seeming high risk? to a business owner/landlord, asking how much it costs to exit the lease does not mark you as high risk. it just means you know what you're talking about, and they are free to set that value to whatever they want in the contract.

That's fine. I just think it's a good idea to have that fund in case I get fired, company closes (startup, series B), etc.

by _RPM 10y ago

That's fine. I just think it's a good idea to have that fund in case I get fired, company closes (startup, series B), etc.

closeparen 10y ago

If your parents are willing to let you live with them, why not just save the cost of exiting your lease (mine is 1 month's rent) and U-Hauling your stuff back home? Or would you not be able to go back once you left?

_RPM 10y ago
My parents tell me I can stay at home forever. I'm not sure about this type of contract. Is it common to have a clause that allows you to "exit the lease"? If so, how would I go forward with asking the people about this without seeming high risk?
- closeparen 10y ago
  The lease should specify a fee, large enough to deter you from walking away for a slightly better deal, but (generally) smaller than paying rent for the remaining months. Giving the required notice (mine is 30 days) and paying the fee lets you terminate the lease early while still fulfilling your legal obligations. It's there primarily for people who need to move because of work, and usually the employer who is relocating them would reimburse it. So, you could probably ask something like, "what if I get transferred to a different office before 12 months is up?" That will signal some risk that the landlord will have to find a new tenant. My landlord is a REIT, and I live in a large complex with 2 full-time leasing agents onsite, so finding new tenants is not a huge burden for them - they're fine with high turnover. A mom-and-pop landlord might be skittish about that possibility. But it is still better than "what if I can't pay rent because I am unemployed?" Definitely don't ask that :).
- deleted 10y ago
  [deleted]
- beachstartup 10y ago
  > If so, how would I go forward with asking the people about this without seeming high risk? to a business owner/landlord, asking how much it costs to exit the lease does not mark you as high risk. it just means you know what you're talking about, and they are free to set that value to whatever they want in the contract.