We've rented a condo from its owner for the last year and a half, and recently our landlord notified me that due to her family financial situation (a family member wants money for a down payment in a high cost of living area), she would need to sell. As compensation for the inconvenience, she was willing to have us only pay half rent ($825 rather than $1650) for two months if we were willing to vacate at the end of those two months (seven months early). I read our lease carefully (one year lease, no language allowing for end of lease at sell) and did a bit of research, and let her know that we certainly understood her need to sell, but we also knew that we were entitled to stay through the remainder of the lease, and that any new owners would be beholden to the existing lease, and that we weren't willing to move for $1650.
We've accommodated all her showings and open houses and now she has an offer, but the potential new owners want to move in some time in August. She now wants to discuss in earnest, buying us out of our lease so that she can finalize her offer. I'm not trying to be a pain to her, but I have one young child in a preschool walking distance where we currently live, and another kid who will be starting her senior year. Moving on her time frame is going to be a big inconvenience. Additionally, similar rentals in our area are super scarce and approximately $400-$500 higher per month.
Has anyone negotiated a lease buyout in a similar situation? I'm trying to think of all the pieces of the puzzle to include in my request to her (additional rent to be incurred for remainder of lease-5 months, cost of movers, return of security deposit early so we can put a deposit on new apartment, reimbursement for general pain in the assness of the situation?). I don't want to move my family, so if I do, I'd like it to be as little of a pain as possible.
Submitted June 05, 2017 at 08:04PM by inexorablyme http://ift.tt/2rNArrD
