Real Estate Matters: Senior renter breaks lease due to medical issues, still owes penalty

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Real Estate Matters: Senior renter breaks lease due to medical issues, still owes penalty
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If you expect you'll need an out during the term of a lease, you should negotiate that and write it into the leasing agreement. Without it, you’re bound by the agreement you make with the landlord.

I am an 80-year-old, semi-retired Realtor of 28 years. I recently rented an apartment in a rental apartment building managed by a professional management company. After a month in the apartment, I had medical issues come up requiring me to leave and move out. These medical issues prevented me from driving and required surgery. I needed to be near friends and in a senior community.

Whether the landlord was out of pocket doesn’t negate your requirement to pay the penalty. You never know what a local rental market might be like. There are times when a tenant breaks a lease and it takes the landlord months to re-rent the place. When that happens, the landlord may be able to go after the tenant for the duration of the vacancy along with other expenses in trying to re-rent the property.

When some of these situations are possible, or even foreseeable, a prospective tenant will try to negotiate a termination right with the landlord. In some situations, the landlord may agree to the early termination but may request a termination penalty or some fee to cover the landlord’s expenses in re-renting the home.

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