I’m trying to buy an Beacon Hill condo, and have just renewed my one-year lease. What’s the protocol? Is it likely I’ll have to find someone to take over my lease? What if I don’t? Can my landlord sue me for all the months until my lease is up? Is it likely in this market that that’s something a landlord would do?

ANSWER:

As Boston’s condo rental market slows down, it’s very much in your best interest to find a replacement tenant once you buy and are looking to move out also make sure the landlord approves of the new tenant.

When you sign a lease you become liable for the full amount of the rent due under the terms of the lease, in this situation that is presented, the landlord can hold the tenant responsible for the full 12 months of rent or what is remaining on the lease.

“In an ‘up’ market a landlord might be happy to have the space to re-let at a higher rent, however, after September in Boston the rental market slows down. After September 1st, landlords are stricter when the market is softer. And the rental market has been softening, especially in Beacon Hill as more and more Boston high rise condo rentals hit the market.

If you find yourself looking for a new tenant to replace you besides your own social networks. You can also let someone else do the legwork and hire a broker—even if you end up paying the fee yourself, presumably, it will be far less money than having to pay rent for the entire rest of the lease.

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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