End of lease/home purchase?

[janM]

What is the name of your state? Ohio

My son is renting a house. He placed an offer to buy a house which has been accepted, just waiting on the appraisal.

His one-year lease is up the first week in September. He was planning to close on the house the first week of July and pay rent for August (landlord is claming the last month's is for September but that doesn't sound right) unless either of them can find another renter before then.

My son heard that if you puchase a house, you can get out of the lease sooner. Anyone heard of this?

 

[bdancer]

Unless the lease has a "get out of lease if you buy a house" clause, your son heard wrong.

 

[BelizeBreeze]

What is the name of your state? Ohio
My son heard that if you puchase a house, you can get out of the lease sooner. Anyone heard of this?

Of course he can.

It's called buying the house he is leasing.

 

[incircles]

maybe someone wiil give you advice. this site is full of nuts, posers and bitter leassors!!!!!!!!!!!
Good luck!

 

[treese]

His one-year lease is up the first week in September. He was planning to close on the house the first week of July and pay rent for August (landlord is claming the last month's is for September but that doesn't sound right) unless either of them can find another renter before then.

That is fair and the norm in that type of situation.

The LL can hold the tenant liable for the rent either the lease expires or a replacement tenant is found. Your son can also be held liable for advertising costs, agent fees or any other cost the LL may incur due to your son's breach. These costs, as well as any damages to the property, can be legally deducted from the security deposit.

My son heard that if you puchase a house, you can get out of the lease sooner. Anyone heard of this?

Yes, I have, but it is not true.

 

[janM]

Treese...he's not planning a breach.

What I meant to say was, we think the last month (which is paid, first and last) should be August and not September...or he can pay for the extra 9 days of Sept. We'll have to check the lease again. He doesn't have a problem with paying till the lease is up. He just wondered if there was a way to get out of it sooner if it's not rented before his lease is up. If not, that's ok.

Thanks for the replies.

 

[BelizeBreeze]

Treese...he's not planning a breach.

What I meant to say was, we think the last month (which is paid, first and last) should be August and not September...or he can pay for the extra 9 days of Sept. We'll have to check the lease again. He doesn't have a problem with paying till the lease is up. He just wondered if there was a way to get out of it sooner if it's not rented before his lease is up. If not, that's ok.

Thanks for the replies.

That last month is the security deposit. I would strongly suggest he do a sit down with the landlord and try to work this out. Otherwise, your son will be liable for any unused portion of the lease and for damages if they occur. That's why a walk-through WITH the landlord and a video camera is my advice.