QUESTION

What are the implications for breaking my lease with 4 months left?

Asked on Feb 21st, 2014 on Breach of Contract - New York
More details to this question:
I was laid off on July 31, 2013 one month after signing my lease. After 8 months I found work in Dallas, TX and will be leaving 3/1. After 7 yrs of being a tenant in good standing, I offered management 2 months rent. They requested 3 months to break our lease which I can not afford at $3900 a month. What if I just leave? What implications could I face?
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1 ANSWER

Appellate Practice Attorney serving New York, NY
If you just leave you will have breached the lease, and will be responsible for any damages the landlord suffers due to that breach, which might or might not be the full four month's remaining rent (depending on whether the landlord is able to rent your space or not), plus interest at 9% (the statutory rate in NY.)  Your lease almost certainly includes an attorneys' fee provision which would require you to pay the landlord's reasonable attorneys' fees for seeking to enforce the lease.   The landlord will obtain a money judgment against you, and will then begin collection proceedings in which the landlord may seek to collect from your bank accounts or other assets, and/or garnish your wages or other income.  It will be more difficult for the landlord to do so when you live in Texas, but not that hard.
Answered on Feb 21st, 2014 at 11:45 AM

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