Author Topic: Should I move down the street  (Read 1847 times)

felizcortez

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Should I move down the street
« on: May 29, 2015, 12:48:04 PM »
I just renewed my current apartment lease in April.  A unit opened up in the same building as some family I have that lives down the street where the lease would start in July.  The rent in the new place would be $450 less per month for a similarly sized apartment, but is not as nice.

There are two units in the other apartment and my family rents the one downstairs. 

A few considerations.
1.  We just renewed our lease on our current apartment.  We could potentially sublet out the current apartment or just break the lease.  I've read our lease and there is no breakage clause.  We would be responsible until someone else moved into the apartment. 
2.  We do not plan to stay in the area we are living long term as I was moved for work and do not like our current location so the extra few months would save us some cash, but put us in a position where we would be locked in to staying longer.
3.  The landlord may see the lease breakage as an opportunity to raise rents on the next tenant - he has made some comments to me in the past that rents have been rising in the neighborhood and he has had good demand for his units (they rent quickly).   Could potentially be a favorable position.
4.  Our current landlord is very professional and has been very easy to work with - as someone who has had bad landlords before I definitely appreciate that he treats his properties like a business.
5.  There are some advantages to moving in down the street.   e.g. we could combine high speed internet costs and share some other costs.
6.  The landlord at the less expensive apartment has expressed interest in selling the building, but that seems to have quieted down.  Our family has complained about the new landlord a few times, since he lives out of state so there would be some risk with moving.


My wife and I don't really want to have to move again in a few months, but this seems as though it makes financial sense, but would be a pain.  Neither of us is chomping at the bit to deal with breaking a lease, moving our stuff etc.

Any thoughts on what you would do?
« Last Edit: May 29, 2015, 12:50:34 PM by felizcortez »

Jags4186

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Re: Should I move down the street
« Reply #1 on: May 29, 2015, 01:02:43 PM »
Even if you break your lease the landlord has a duty to mitigate losses. If it's a hot renters market you'll be on the hook for 1 months rent at most likely.   Try to line up a replacement and go to the landlord.

KungfuRabbit

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Re: Should I move down the street
« Reply #2 on: May 29, 2015, 05:01:09 PM »
if you can negotiate not paying any double rent (lining up a new tenant in current place same time as moving into new place) go for it, but even paying double rent for 1 month would negate like 6 months of the money you save...

also, why do you want to live in the same building as your family?  Seriously man, think about it.  just think about it.  i love family being in the same metro area, but the same building?  No thanks. 

felizcortez

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Re: Should I move down the street
« Reply #3 on: May 29, 2015, 05:53:45 PM »
if you can negotiate not paying any double rent (lining up a new tenant in current place same time as moving into new place) go for it, but even paying double rent for 1 month would negate like 6 months of the money you save...

also, why do you want to live in the same building as your family?  Seriously man, think about it.  just think about it.  i love family being in the same metro area, but the same building?  No thanks.

On the family thing, I agree with you.  Wasn't sure if that came across like I wanted it to on the original post.