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Tenancy Problems - Rental Agreement

 Related Legal Forms Provided by LawDepot.com
- Rental / Lease Agreement
- Rental Application (Residential)
Q: I broke my lease after 4 months of tenancy; I turned in my one month notice as required and the apartment got rented 24hrs after my notice was turned in. (The manager put a "For Rent" on the front lawn of the building). There were no financial damages caused. The Management company still requires me to pay Liquidated Damages of $1237 (which is a month and half rent) as "penalty" for breaking the lease.
My question is, is that amount reasonable given the lack of financial damages?
A: If the $1237 is found to be a penalty it likely isn't enforceable. If the $1237 is found to be liquidated damages, it likely is enforceable. Liquidated damages are recognized as a genuine pre-estimate of damages if a breach occurs. The amount is set out and agreed to at the beginning of the lease period, and establishes the recognized and agreed upon costs and expenses of advertising, re-renting expenses, etc.
If you don't agree or accept the amount set out in a liquidated damages clause, the time to object is before you sign the agreement - not after.


 
 

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