4 ms·
I had that once, in an apartment I rented in the US (TX). If you broke the lease early, you were on the hook for the remainder of the lease, UNTIL the apartment
by kingaillas 6y ago
I had that once, in an apartment I rented in the US (TX). If you broke the lease early, you were on the hook for the remainder of the lease, UNTIL the apartment was rented again. This was called "rent acceleration" as I remember it. This was also ~25 years ago so maybe it is different now, but it definitely existed and I was subject to it.
At the time I bought a house so I broke the lease to move in. Fortunately, the apartment rented within the month so I didn't owe additional fees.
Out of curiosity I googled "rent acceleration" and see it is a hot topic now - mostly with commercial real estate and businesses break their leases due to the impact of covid on them. See https://www.jdsupra.com/legalnews/what-landlords-need-to-know-about-6380579/ https://www.jdsupra.com/legalnews/what-landlords-need-to-kno... for a summary. Also interesting is some US states make residential leases exempt from rent acceleration.