After a year, does my lease go month to month?
When your lease expires, you’ll have the option to renew it for another year and of course, we’d love to have you stay. While we would like to be able to offer month-to-month leases, this unfortunately opens up the possibility of more than one apartment giving notice at the same time. With such a small building, two or more vacancies can be a difficult financial burden on the owners and sometimes our vendors aren’t immediately available. For this reason, we offer renewals that are of the same duration as your original 12-month lease.
What if I sign for another year and have to move out?
Just like with your original lease, you always have the option of breaking your lease which most landlords don’t usually offer. This means that if you sign for another year and have to move, you can pay a “lease break” which will release you of the remainder of your lease.
Let’s say that you renew for another 12 months and find out that you have to move to New York three months in. You still have nine more months left on your lease to pay. You can give a 30-day notice, pay the lease break, and this releases you of any additional responsibility. Easy, peasy. The other option is to go “rent responsible” which means that you would pay through the end of your lease or until it becomes re-rented, whichever occurs first.
If you do have to move within a renewal term, we’ll work with you to see what the best option is. We can usually always find a way to work it out.
Do the owners ever offer shorter term leases?
Occasionally, they’re able to offer a shorter term lease other than 12 months. They do this as a one-time courtesy if you know you’ll need to move out. To minimize the possibility of two vacancies at once, they space the leases out to expire at different months throughout the year, so if they have an “empty” month, sometimes they can slot you in there if you’re flexible. As always, we’re more than happy to chat things through to see which situation works best.
What do I have to do to move out?
We’d hate to see you go, so if there is anything that we may do that might make you reconsider your move, we would appreciate the opportunity to address any concerns you may have in the hopes to continue your residency. But if you must go, you’ll need to provide us with a formal 30-day notice. You can do that online here.
Once we receive your notice, we will send a “move-out packet” to your door that will include a checklist of everything you’ll need to do.
Can I move out sooner than when my lease expires?
You are welcome to turn in keys prior to your lease ending and there’s a few benefits to doing so. If you find another place and want to move over there ASAP, you can physically move out and just pay through the end of your lease. The benefits here are that you can move when it’s convenient for you and you’ll get your security deposit back sooner since we have to return it within 21 days of receiving keys, even if there’s still time left on your lease. If we’re able to turn the apartment over and lease it to someone new before your lease ends, you would also get a rent credit back to you.
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