I’ve stayed in the same apartment for over five years. I just renewed a few months ago, but I have to leave due to a job change.
Do penalties for leaving early only apply with the initial contract? Isn’t a renewal an extension of the intial terms? I’m worried that they’ll come after me in penalties despite having given them five years of rent.
Has anyone ever been dinged for leaving early after a contract renewal?
4 comments
It is possible for renewed contract to have a penalty for leaving early but I have never seen it. The purpose of those penalties is to prevent rapid turnover of residents, which creates something of a bad environment. But you have already put in your time as a long term resident. So it is highly unlikely you will be subjected to the penalties.
Usually just the initial contract. You can check your contract.
Is the job change on your end, or is the company moving you around?
If the latter…the company should be paying any fee.
If you were hired and need to move for the new job, you also have a legit reason to ask the new company to help pay any expenses. Worth a shot, at least.
Either way – if you’ve been there five years, there should be no early termination fee, just an advance notice requirement (usually 1-2 months).
Depends entirely on the type of contract.