Lease agreement

A friend of mine renewed her lease on August 5th of this year. The current lease does not end until September 30th. Due to unforseen problems, they are not going to be able to keep the lease and want out of the new lease. The new lease is not effective until October 1, 2000. The question is this, if they send the rental company a letter stating that they want to change the new lease to month to month instead of yearly prior the the date of October 1st, can they get out of the lease they signed on August 5th? Is the remaining time on the old lease a loop hole of time?

[HomeGuru]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by wemisshi:
A friend of mine renewed her lease on August 5th of this year. The current lease does not end until September 30th. Due to unforseen problems, they are not going to be able to keep the lease and want out of the new lease. The new lease is not effective until October 1, 2000. The question is this, if they send the rental company a letter stating that they want to change the new lease to month to month instead of yearly prior the the date of October 1st, can they get out of the lease they signed on August 5th? Is the remaining time on the old lease a loop hole of time? <HR></BLOCKQUOTE>

Even if they send such a letter, the new written lease would still be valid and it would be up to the management company to decide to change to m/m or hold them to the fixed lease. There is no loophole of time theory since a new lease can be executed at any time even prior to the expiration date of the old lease.

They should start looking for a sublettor right now. If they can find one to take the lease starting 10/1, they should be able to buy out of the lease for $50 or so.

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This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.