3 ms·
In the US, rentals are generally for fixed terms (I haven’t seen any other form, but I could be wrong). The apartment I’m currently in was signed for only one y
by colejohnson66 6y ago
In the US, rentals are generally for fixed terms (I haven’t seen any other form, but I could be wrong). The apartment I’m currently in was signed for only one year at a specified monthly payment. First months payment and a security deposit (equal to a monthly payment) were required at signing. At the end of the term, we have the option to renew (at a possibly higher price) or leave (and get the deposit back).
Many rental contracts have an early termination clause of some sorts. Generally, they charge you an “early termination fee” that’ll come out of your security deposit.
However, the laws also have “breach of contract” provisions: if your landlord is not keeping up the property (such as ignoring requested work orders), you have the right to leave at any time (before your term ends) and get your security deposit back. You may have to go to court over it, but you are offered that protection. It does go two ways though: if you are trashing the place, they can kick you out right away and keep your deposit.