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This topic contains 34 replies, has 0 voices, and was last updated by stephentszuter stephentszuter 1 year, 2 months ago.

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  • #532692
    peter
    peter
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    Why can’t we just go month-to-month without penalty?

    Because the value of the space you are occupying has gone up while you lived there. What you’re asking for is a rent-stabilized apartment a la NYC. Highly unlikely and undesirable (IMO) in Columbus.

    You’re certainly free to negotiate with your landlord if you want to stay for an extra 9 months. They might even be open to signing a lease. But turnovers (especially when unexpected) cost the landlord a lot of money, which is why they discourage it and charge a premium for flexibility. Why would anyone ever sign a lease otherwise?

    If you’re month-to-month, that means you can leave at any time with 30-days notice and the landlord has to scramble to find someone to take your place. That’s why they charge you extra, to help recoup those costs and encourage you to sign a lease. Make sense?

    I don’t know of any state that requires landlords to allow a year-long lease to automatically convert to month-to-month at the same rate. Otherwise you’d have an entire cottage industry of people subletting their apartments and essentially never moving.

    #532693

    bucki12
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    stephentszuter said:

    I read that it was $375 to break a contract. Or maybe that was in Chicago? Where they have a limit?

    If that’s not the case, then it could cost me thousands.

    In Ohio you are on the hook for the rest of the lease amount unless they can find another tenant.

    #532694
    peter
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    So everyone is in agreement that it’s a good thing that we don’t have the right to go month-to-month at a reasonable increase in price?

    Define “reasonable”. Do you really want lawmakers legislating prices?

    #532695
    ToddAnders
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    If I were you, I would approach the landlord, let him/her know of your intentions of moving in 8 months and move forward. Then they can plan on when to get a new tenant and you can plan on your move to the new building.

    All landlords want are as much certainty as is possible. Even “bad news” of a tenant leaving is not bad given you have notice. This is why month to month doesn’t work without an increase in rent.

    #532696
    stephentszuter
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    With downtown (where I live) at nearly 100% occupancy and high-demand, there is no problem finding tenants… you’d think they would be a little more lenient than increasing my rent by $50/month.

    It’s just something that I wanted to throw out there. I’m not necessarily arguing for rent stabilization, either. Just healthy increases in rent when desiring to go month-to-month.

    I just find it aggravating that I have to schedule my life around a year-long contract instead of month-long contracts.

    Either way, I’m only giving the landlord 30-days notice. There’s no difference…

    I’ll just continue to arrange my life around the year-long contract.

    #532697
    stephentszuter
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    ToddAnders said:
    If I were you, I would approach the landlord, let him/her know of your intentions of moving in 8 months and move forward. Then they can plan on when to get a new tenant and you can plan on your move to the new building.

    All landlords want are as much certainty as is possible. Even “bad news” of a tenant leaving is not bad given you have notice. This is why month to month doesn’t work without an increase in rent.

    That’s my best bet. I’ll just try to work with them and if possible, find a subleasee.

    With downtown’s demand, I’m sure I won’t have too much of a problem with this.

    #532698
    peter
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    With downtown (where I live) at nearly 100% occupancy and high-demand, there is no problem finding tenants… you’d think they would be a little more lenient than increasing my rent by $50/month.

    You’ve got that backwards. There is a huge demand for apartments so they are LESS likely to be lenient to existing tenants, knowing they can easily replace you with another willing tenant who will gladly sign a year-lease at a higher rate.

    #532699
    stephentszuter
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    peter said:
    With downtown (where I live) at nearly 100% occupancy and high-demand, there is no problem finding tenants… you’d think they would be a little more lenient than increasing my rent by $50/month.

    You’ve got that backwards. There is a huge demand for apartments so they are LESS likely to be lenient to existing tenants, knowing they can easily replace you with another willing tenant who will gladly sign a year-lease at a higher rate.

    I’m no good at this. That’s why I started a thread to figure it out. :)

    #532700
    peter
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    :) no worries, hopefully things are a little more clear now.

    #532701
    groundrules
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    bucki12 said:
    In Ohio you are on the hook for the rest of the lease amount unless they can find another tenant.

    anyone ever tried to collect on this? or had someone try to collect the money from you?

    #532702
    peter
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    Sure, happens all the time. Typically the judge will allow the landlord to go after rent for the time the unit sat vacant, as long as they made a “reasonable” effort to re-lease. It’s unusual that tenant would be required by the court to pay the entire remaining amount of the lease (though good luck getting another landlord to admit to that!)

    #532703
    peter
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    Take note when you sign a lease: You’re actually agreeing to pay the full amount. It’s just a convenience that the landlord allows you to pay it in monthly installments.

    But again, courts typically side with tenants here. It’s a risky move though; your credit will take a hit and it will be extremely difficult to convince another landlord to lease to you.

    #532704
    gramarye
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    stephentszuter said:

    Why can’t we just go month-to-month without penalty?

    Think of it more as buying months in bulk when you sign for a full year and buying individual items when you buy months individually. You get a bulk discount when you buy 12 at a time.

    When a tenant goes month to month, the landlord assumes more risk. Not an enormous amount, but some. The relatively minor increase in price reflects that: a small increase in the landlord’s risk, but not insurmountable. Compare this: My landlord sends renewal letters out 90 days prior to lease expiration, due 60 days prior to expiration. They do that so that if you’re not renewing for another year, they have the ability to start advertising the property immediately as “available in [month unit comes open].” If they can get a new tenant in those two months, then the apartment will only be vacant for a week or two while they clean it up, and their revenue stream from the unit will continue relatively uninterrupted. If you’re going month-to-month, the landlord will be unable to do that, and will either have to scramble to find a tenant on short notice or will have to leave the unit vacant for some time.

    #532705
    jmiller10
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    stephentszuter said:
    That’s my best bet. I’ll just try to work with them and if possible, find a subleasee.

    With downtown’s demand, I’m sure I won’t have too much of a problem with this.

    I work for an apartment developer, you may want to ask about short term lease options. It may be more than your current rent, but less than month to month, especially since you plan on 8 more months in your current unit.

    #532706
    stephentszuter
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    Never mind everyone. My coworker that used to live in San Francisco was charged an extra $500/month while going month-to-month.

    I’m not complaining anymore.

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