Can I Break My Apartment Lease?

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Q & A with Dottie Herman

Q: I leased an apartment for a year--we absolutely hate the area. What is the penalty to breaking our lease? Losing the security? What is standard?
 
A: The terms and conditions you agreed to in your Lease should provide the answers to your questions. In addition, you may want to initiate a conversation with your Landlord and explore your early termination options and penalties, if any. It would be best to have a lawyer review your Lease to determine if the Lease contains language regarding early termination.

Q: I am thinking of selling my home. We have lived here for about 40 years. What is my first step to sell my home?
 
A: The internet is a good tool for you to use to familiarize yourself with current market values of comparable homes in your neighborhood. In this way you can evaluate your home's features and condition in terms of what is currently on the market. It is also helpful to schedule appointments with real estate professionals who have a proven track record of sales in your area so that you can gather more information to make an informed decision on both price, and what recommendations they may have in preparing your home for sale.
 
Q: I am looking for a rental in NYC for my daughter  who recently graduated college. What is the average price of a rental in the Murray Hill/Downtown area for a one bedroom?
 
A: The Rental Market in NYC is very active, and Murray Hill offers a wide range of options and price points. High-Rise buildings with amenities such as full-time doormen have higher rents than buildings and walk-ups that do not have this and other features. Doing an on-line search, or working with a real estate professional, is best to give you a real time overview of your options. With a recent college graduate, you should be prepared to be a Guarantor and if your daughter is employed, she should have her Employment Letter and compensation information available.
 
Q: We need to relocate as my husband just got a new job on Long Island. We currently live in Westchester, but we are from the south- I have no idea about the island, and I am unsure where I wish to live. Do we rent first? Are there rentals on Long Island?
 
A: Long Island has a variety of rental and purchase options available to you. If living in close proximity to your husband's employment is a priority, searching the web to familiarize yourself with neighborhoods close by, and learn about the features and benefits of each might be a good place to start. Your husband's Employer may be helpful to you, as well as contacting real estate professionals in the areas in which you are interested. Long Island is a large area, and narrowing down specific areas that meet your parameters is an important first step.
 
Q: I am selling my home in northern New Jersey, and moving to south jersey. I love my real estate agent that we are using to sell our home. She said she can help us find a new home; however, my husband is hesitant since she lives an hour away and he is afraid she doesn't really know the area. Is it best to find someone very local? Can agents work different territories?
 
A: As all real estate is local, it's generally best to work with an area specialist. If your agent has sold in South Jersey, ask for specifics. However, the trust you have in your current agent can help you in selecting one in South Jersey. By enlisting her help, she can refer you to agents she may have first-hand knowledge of, and can participate in the process as well.