Consumption and Real Estate
New property mgmt taking over soon, can I opt out of my current lease?
Question : New property mgmt taking over soon, can I opt out of my current lease?
The property management for our apartment complex is changing soon. We currently have a lease w/ the existing property manager through the spring of 2008. The new property mgmt will be taking over our leases soon, and I believe we will have to re-sign with them. However, they are changing policies including their pet policy, which will increase our rent.
Where should I look to find out if I have the right to opt out before the new property mgmt takes over? Will there be an item in their lease that mentions something like this, or should I look at my current lease?
Thanks for any help.
property mgmt
Best answer:
Answer by computer_guy_2k6
All leases are different, best bet is to take a look at your lease you have now. Look for a section for breaking your lease. There should be something about a third party taking over as management.
I would look for a clause in your current lease that guarantees the lease be good until spring of 2008 so you can keep things the way they are. The new company is obligated to honor your current lease, but I would also look for items talking about your rates- they may be able to jack them up.