4 ms·

It is actually a common practice, if you want to terminate the lease, to stop paying and get evicted. However, they may still be liable to pay for the three or

It is actually a common practice, if you want to terminate the lease, to stop paying and get evicted. However, they may still be liable to pay for the three or four months they used.

ender341341 3y ago
most leases say your responsible for the remainder of the lease unless they're able to rent it out again, at least for residential, (though I'm not sure how eviction effects that).
- etchalon 3y ago
  Very, very, very few commercial leases have such a clause and local tenant laws generally do not apply to commercial leases. If you're lucky, you can negotiate an "out" clause, where, given sufficient notice, you can terminate the lease early, but commercial landlords are very hesitant to do it. There's a reason Start-ups love month-to-month co-working spaces.
TheNewsIsHere 3y ago
This is why that strategy does not make sense to me. I don’t refute it _is_ a strategy that would undoubtedly work. But if you’re on the hook for the full amount either way, why not just leave early and hand over the key? There’s less that could go wrong that you’d be responsible for, the space isn’t just sitting unused, and the owner has an opportunity to market it earlier. Everyone walks away better for it. Plus you don’t have the negativity and expense of a lawsuit or an eviction or whatever else. Ninja edit: am I missing something?
- beanjuiceII 3y ago
  >Ninja edit: am I missing something? ya the lease agreement
  - TheNewsIsHere 3y ago
    What kind of lease agreement requires that you be in the building? I am genuinely asking because I’m not familiar with that kind of stipulation.
    - 411111111111111 3y ago
      this is the proposed theory, basically: You have a contract for a 1 year lease but stop paying, getting evicted after the second month. Saved 10 month of obligations
      - WirelessGigabit 3y ago
        Don't those leases have stipulations that are like "upon eviction the whole lease becomes due"?
        portpecos 3y ago
        I hope not. When I was forced to leave my place, I couldn't even manage to pay the electricity bill. It'd simply be impossible for me to afford such a hefty sum + compound interest + late penalty fees, if the Landlord pursued me in a manner that led to my future wages being garnished to cover all that. I resided there for four years and consistently paid on time, but by the fifth year, I simply couldn't meet all the financial obligations. I sincerely wish the Justice system would show more leniency instead of demanding that I repay the entire lease upon eviction.
        silverbax88 3y ago
        Residential leases and commercial leases are wildly different. Residential leases are fairly boilerplate but commericial leases are bespoke and negotiated.
    - mrtranscendence 3y ago
      I know absolutely nothing about these agreements, but the idea seems at least plausible. An unoccupied building doesn’t get problems noticed or fixed, and could result in squatting.
- deleted 3y ago
  [deleted]
SoftTalker 3y ago
It becomes a game where the landlord is weighing the costs of an eviction and the time that will take and getting a judgement for the unpaid rent and legal costs, and the likelihood of actually collecting on that, vs a negotiated settlement that lets them get the property back on the market as soon as possible and with the lowest costs.
WeylandYutani 3y ago
I remember Hudson's Bay having to keep paying the rent on their expensive long term leases when they exited the Netherlands. Dumbass company was so sure their operation would be a success. Reneging on a written contract doesn't seem to have the same social stigma in America.

It is actually a common practice, if you want to terminate the lease, to stop paying and get evicted. However, they may still be liable to pay for the three or four months they used.

ender341341 3y ago

most leases say your responsible for the remainder of the lease unless they're able to rent it out again, at least for residential, (though I'm not sure how eviction effects that).

etchalon 3y ago
Very, very, very few commercial leases have such a clause and local tenant laws generally do not apply to commercial leases. If you're lucky, you can negotiate an "out" clause, where, given sufficient notice, you can terminate the lease early, but commercial landlords are very hesitant to do it. There's a reason Start-ups love month-to-month co-working spaces.

TheNewsIsHere 3y ago

This is why that strategy does not make sense to me. I don’t refute it _is_ a strategy that would undoubtedly work. But if you’re on the hook for the full amount either way, why not just leave early and hand over the key? There’s less that could go wrong that you’d be responsible for, the space isn’t just sitting unused, and the owner has an opportunity to market it earlier. Everyone walks away better for it. Plus you don’t have the negativity and expense of a lawsuit or an eviction or whatever else. Ninja edit: am I missing something?

beanjuiceII 3y ago
>Ninja edit: am I missing something? ya the lease agreement
- TheNewsIsHere 3y ago
  What kind of lease agreement requires that you be in the building? I am genuinely asking because I’m not familiar with that kind of stipulation.
  - 411111111111111 3y ago
    this is the proposed theory, basically: You have a contract for a 1 year lease but stop paying, getting evicted after the second month. Saved 10 month of obligations
    - WirelessGigabit 3y ago
      Don't those leases have stipulations that are like "upon eviction the whole lease becomes due"?
      - portpecos 3y ago
        I hope not. When I was forced to leave my place, I couldn't even manage to pay the electricity bill. It'd simply be impossible for me to afford such a hefty sum + compound interest + late penalty fees, if the Landlord pursued me in a manner that led to my future wages being garnished to cover all that. I resided there for four years and consistently paid on time, but by the fifth year, I simply couldn't meet all the financial obligations. I sincerely wish the Justice system would show more leniency instead of demanding that I repay the entire lease upon eviction.
        silverbax88 3y ago
        Residential leases and commercial leases are wildly different. Residential leases are fairly boilerplate but commericial leases are bespoke and negotiated.
  - mrtranscendence 3y ago
    I know absolutely nothing about these agreements, but the idea seems at least plausible. An unoccupied building doesn’t get problems noticed or fixed, and could result in squatting.
deleted 3y ago
[deleted]

SoftTalker 3y ago

It becomes a game where the landlord is weighing the costs of an eviction and the time that will take and getting a judgement for the unpaid rent and legal costs, and the likelihood of actually collecting on that, vs a negotiated settlement that lets them get the property back on the market as soon as possible and with the lowest costs.

WeylandYutani 3y ago

I remember Hudson's Bay having to keep paying the rent on their expensive long term leases when they exited the Netherlands. Dumbass company was so sure their operation would be a success. Reneging on a written contract doesn't seem to have the same social stigma in America.