All Forum Posts by: Nikki Swansen

Better, I hope:

If Tenant(s) move out prior to the end of the Lease term without having paid the rent in full, Tenant(s) agree to pay to the Landlord an early move-out charge in the amount of $2650 (two months rent), the security deposits, and rent while the property is vacant. Tenant(s) must submit an advance written notice to the Landlord 55 days before termination. The notice will not go into effect until the early move-out payment is received.

Tenant(s) understand that this charge is not a penalty or fee that releases the Tenant(s) of his/her obligations under the Lease. Tenant(s) are still responsible for all obligations under the Lease including paying for all rent due, damages and other charges.

Okay.. after a ton of reading, I have changed it to:

If Tenant(s) choose to move out before the end of the least term, or renewal thereof, Tenant(s) understand that the Landlord will incur costs which include, but are not limited to, the time and expenses in finding and renting to a new Tenant these costs may include Employee costs, advertising, marketing and other expense. Naturally, the exact amounts of these costs vary and are difficult to determine.

Tenant(s) agree that he/she prefers to have a fixed, known amount that the Tenant(s) agree to pay if the Tenant(s) move out early, rather than taking a change that the actual costs could be more or less that this agreed-to amount. Therefore, if Tenant(s) move out prior to the end of the Lease term without having paid the rent in full, Tenant(s) agree to pay to the Landlord an early move-out charge in the amount of $2050 (two months rent plus $150 for advertising costs) and is seperate from security deposit deductions to cover the Landlord's expenses in having to re-rent the Leased Premises in lieu of paying the Landlord's actual damages. To implement this option, Tenant(s) must submit an advance written notice to the Landlord at least 60 days before termination. The notice will not go into effect until the early move-out payment is received.

Tenant(s) have evaluated and agree that these charges are very reasonable estimates of the Landlord's re-renting costs. Tenant(s) also agrees to pay these charges whether or not the Landlord is successful in re-renting the Leases Premises. Additionally, the Tenant understands that this charge is not a penalty or fee that releases the Tenant(s) of his/her obligations under the Lease. Tenant(s) are still responsible for all obligations under the Lease including paying for all rent due, damages and other charges.

If anyone could give me a quick critique.... I would be so thankful!!!

Thanks James! Okay, so if I read what you said correctly, how does something like this look?

If Tenant chooses to move out before the end of the least term, or renewal thereof, Tenant understands that the Landlord will incur costs which include, but are not limited to, the time and expenses in finding and renting to a new Tenant these costs may include Employee costs, advertising, marketing and other expense. Naturally, the exact amounts of these costs vary and are difficult to determine.

Tenant agrees that he/she prefers to have a fixed, known amount that the Tenant agrees to pay if the Tenant moves out early, rather than taking a change that the actual costs could e more or less that this agreed-to amount. Therefore, if the move-out date is within the first 6 months, Tenant agrees to pay to the Landlord an early move-out charge in the amount of $2600 to cover the Landlord's expenses in having to re-rent the Leased Premises in lieu of paying the Landlord's actual damages. If the move-out date if after 6 months of tenancy, Tenant agrees to pay $1250, advertising costs and rent until a new tenant is found and occupies the unit. To implement these options, Tenant must submit an advance written notice to the Landlord at least 60 day before termination.

Tenant have evaluated and agree that these charges are very reasonable estimates of the Landlord's re-renting costs. Tenant also agrees to pay these charges whether or not the Landlord is successful in re-renting the Leases Premises. Additionally, the Tenant understands that this charge is not a penalty or fee that releases the Tenant of his/her obligations under the Lease. Tenant is still responsible for all obligations under the Lease including paying for all rent due, damages and other charges.

Thank you!

You saved me a headache!

Have a great day!

-nikki

Thank you for your reply.... Minnesota doesn't say anything for the amounts, so that would be a good way to go, yes? By chance, do you know where I can find the "wording" that I should use? I have search extensively here with no luck.

-nikki

Early Termination in Minnesota - What do I Use?

I am having trouble figuring out what to put for the early termination for my lease. I know there should be fees, but can someone point me in the right direction for the wording and fees I should use for Minnesota.

I am a brand new landlord and would really appreciate any help!

-nikki