72-hour "cooling off" periods
Q: I signed an agreement to rent from Betty on Feb 18th and stated that I would move in on the 21st of February. On the 19th I went back to the complex to look again and decided that I did not want to live there due to not feeling safe. Is there something called contractual agreement that would allow me to change my mind within 72 hours and receive my deposit back?
Lucy R.
A: Dear Lucy,
Some states have a 72-hour "cooling off" period for major purchases ...
but these generally do not apply to leases (because you are not "buying"
anything). I don't know where you live, so I can't research if your
region has such a law...but I do have the following recommendations.
1. See a local tenant's union immediately. They can help advise much
better than I can and this is true because much of the law that governs
landlord/tenant relationships is local law (city and county); there
might be some provision in the local law that can help you. I doubt it,
but it's worth a shot. Perhaps the factors that you state as making the
place undesirable would make a difference.
2. Talk to the property owner or manager (whomever you dealt with).
They're trying to hold you to a contract, and you're trying to break the
obligation. If the property owner insists on holding you to the terms of
the agreement, and the agreement is valid, the owner may be entitled to not
only your security deposit, but the entire value of the lease (that is,
if the terms were $700/month for 12 months, $8,400, plus - if the lease
has this provision - attorney fees for suing you to collect this
amount.) Now, this assumes that the property owner was unable to re-let
the unit for the duration of your agreement. So, if you can work
something out up front, that would save you a lot of time and
aggravation. Your security deposit might be the least of your worries,
although it sounds like the property owner or manager wouldn't go after
you for more than the $300.
If the property owner won't let you out of the lease, and there is no
local or state law that allows you to break the lease, could something
be done to make the place acceptable to you? Talk to the property owner
about your safety concerns. Perhaps there is something in the works to
address this issue. But, if not, you might be out the $300.
If you feel strongly about it, you might sue the property owner or
manager in small claim's court for the deposit. You may or may not win
(in small claims, anything can happen and usually does) but it would be
worth the nominal filing fee, especially if the property is unsafe. It
might be worth threatening this in writing if you don't get your deposit
back ... a local attorney might write a "nastygram" to assist in
this regard for a small fee. (I used to do these for about $50, but hey, I'm cheap.)
Good luck!
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Defining "tenancy at will"
Q: I am a senior in a Consumer Math class. We are learning about renting apartments right now, and we got a list of terms to define for homework tonight. I do not know what "Tenancy at will" and "Tenancy for years" mean. I hope you can help me out.
Amber
A: Tenancy at will (also known as estate at will: "A tenancy (leasehold) in which the tenant's time of possession is indefinite." Historically, either the landlord or the tenant could terminate the leasehold ("leasehold" is a fancy way of saying "lease"); however, most states require statutory notice (that is, the law requires notice for a certain period).
Tenancy for years: "A tenancy that runs for a definite period, and that has a definite termination date" - it could be years, months, weeks or even days (not just years!)
Any other questions? Always happy to help with the homework.
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