07-31-2013 10:06 AM
I was speaking with realtor, she asked if I was under a lease and for how long and when I told her my lease was signed in May and will be until May 2014 she said that I would most likely be responsible for finding a new tenant if I end up purchasing before the end of the lease.
Is that true? I rent from a real estate comany now.
07-31-2013 10:14 AM
look at the early termination clause in your lease and see if it says anything about penalties or damages. Does it say you can reduce your penalty if you provide a new tenant? Or even mention that?
Typically around here a tenant has to pay a penalty, but not find a new tenant.
08-01-2013 12:31 PM
if there is nothing in the lease agreement about it, I don't see how they can say you have to find a tenant. On the other hand, if you break the lease early, and it provides for an early termination penalty, maybe you can avoid paying it if you already have another tenant lined up.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.