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I bought a house and I would like to Cancel my lease

agreement. My landlord did not give...
I bought a house and I would like to Cancel my lease agreement.
My landlord did not give me an option to sublease or he does not want to re-rent the apartment.
I am living in Des Plaines, IL.
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Answered in 16 minutes by:
3/27/2018
barristerinky
barristerinky, Attorney
Category: Landlord-Tenant
Satisfied Customers: 42,601
Experience: Attorney over 17 years, landlord 26 years
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

.

Does the lease have any written "escape clause" in it that allows you to terminate it early by paying a fee?

.

.

thanks

Barrister

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Customer reply replied 3 months ago
TERMINATION BY TENANT: Upon sixty (60) days written notice to Lessor, Tenant may terminate this Lease by executing a
Lease Cancellation Agreement provided by Lessor. Tenant agrees that in the event Tenant acts to terminate this Lease that:
(1.) Tenant shall provide sixty (60) days written notice to Lessor; and
(2.) Tenant shall pay to Lessor as liquidated damages a total sum equal to three (3) months Rent or half of the remaining
Rent due under the original Lease, whichever amount is less.

Ok, so what is your question about ending the lease?.

.

Are you asking if you have to pay the fee to get out of the lease?

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Customer reply replied 3 months ago
He sent me a lease cancellation agreement and he is looking for $3,675 which is not half of the remaining amount. My rent price is 1470 and Lease will be end Agust31.
Customer reply replied 3 months ago
my question is is there any other way to pay less? I am asking this because He is not trying to rent the apartment. I am ok to pay his financial damages if he can't rent the apartment. He does not want to go that way.

Ok, then if you don't agree with the amount, you would need to send him something with the correct amount on it and ask him where he is getting his amount. Make sure you show your math..

.

But my math says that 5 months at 1470 = 7350. Divide that in half (half the remaining rent) and you get 3,675 which is less than 3 months rent which equals 4410

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Customer reply replied 3 months ago
I already paid the April one.

The only other way to handle it is to just break the lease and move out and stop paying. He then has a legal duty to mitigate his damages by trying to re rent as soon as possible. Then he can only hold you liable for any lost rent.

.

So if it takes him a month or two to re-rent, that is all he can hold you liable for.

.

But if you already paid April, then you just need to show him his math is wrong if you want to take the buy out option.

barristerinky
barristerinky, Attorney
Category: Landlord-Tenant
Satisfied Customers: 42,601
Experience: Attorney over 17 years, landlord 26 years
Verified
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