Money
& Promises that it won’t happen again
To get past a broken lease, many apartments will require
additional:
· Refundable deposits, usually ranging from $500 to $1000
· Additional Month paid, one or two month’s rent
· Co-Signer making 5x the rent
· Only with 1-or2-years good rental history reestablished
It can, in some circumstances, be less expensive to
pay off a broken lease than to “get around it”. It’s hard to compute the
amount of additional interest rates you will end up paying for the next seven
years and even items like car insurance may be higher due to a damaged credit
rating; so it is best to settle this.
I think many people think the amount of the broken lease
is the Rental Amount X the months you left early – and that is what the
apartment or the collection agency may tell you too. But in Texas, the amount
of the broken lease is:
DAMAGES + MONTH(S) VACANT = Broken Lease Amount*
*In the example of a $1000/m apartment with $200
damages, that was leased again after 1 ½ months would be: $200 damages + 1.5
vacant months (1000 rent per month) or $1700.
If the apartment is charging you more DISPUTE THE
AMOUNT on your credit report. To find out when your old apartment was
rented either call the complex or the energy line provider. Either should tell
you.
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This is Real Estate advice, not legal advice; if you need legal assistance,
contact an attorney or legal aid.
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