ezorn33
New Member
Joined: Jan 31, 2011 9:46:35 GMT -5
Posts: 18
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Post by ezorn33 on Jan 31, 2011 9:51:53 GMT -5
I'm attempting to rent out my condo, and it's been sitting for a couple of months. I have someone interested, but wants a six-month lease (he can't be sure he'll still be in the area beyond that), and the condo association rules state that the minimum lease for a rented-out unit is one year.
Is there any way around that? For example, could I structure a lease such that it's a one-year contract with an early termination fee up until 6 months but no early termination fee after 6 months (provided 30 day notice)? Or is this a bad idea and I should just keep looking?
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Deleted
Joined: May 2, 2024 1:52:17 GMT -5
Posts: 0
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Post by Deleted on Jan 31, 2011 9:57:16 GMT -5
I would do the one year lease with an option for the tenant to terminate for any reason after 6 months with 30 days notice. You'll probably be able to get away with it once but don't make it a regular practice.
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Urban Chicago
Established Member
Joined: Dec 23, 2010 9:21:48 GMT -5
Posts: 435
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Post by Urban Chicago on Jan 31, 2011 10:01:18 GMT -5
I agree with Bonnap. However, you may want to see if other owners are trying to rent our their units and why yours is or is not able to attract a full-year tenant.
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