Early Lease Termination Clause in IL

[Adrian]

I am a tenant in apartment complex in Lombard, IL. I have relocated from MN and started my lease from Nov 15, 2008. Because of numerous issues that does not actually constitute illegal from landlord perspective (more personal), I am trying to early terminate my lease. I have looked at my original Lease Agreement, there was not a single clause on “Early Termination” or even “Termination”. So, I went to the office to ask and discuss the early termination. At that point, landlord hand out separate “Lease Termination Policy” which I was not aware of the separate policy because it was not given to me at the original lease signing nor disclosed about the policy and penalty that is associated with this. THERE IS NO TERMINATION CLAUSE ON THE SIGNED LEASE AGREEMENT.
Penalty is I need to pay two month work of rent plus all the concession fees related to my rent(discount). I am not disputing the penalty but more of non-disclosure of the lease termination clause on the Lease Agreement that I have signed and other Lead based paint addendum, garage policy, and etc….
Please give me some advise.

This termination policy is standard in the industry. You can refuse if you wish. However, I can tell you that you will legally be obligated to continue to pay the rent until the unit is re-rented, advertising costs, repay any and all discounts, any unpaid utilities that can be liened against the property owner (usually water, but sometimes power), any agent fees he pays to find a new tenant, and any other unreimbursed costs (like credit checks for new applicants that are not covered with application fees). You must pay back any discounts since you only got those because you signed the lease. Month to month tenants would not receive those. If you break the lease, you must pay these back.

State law makes the LL responsible to attempt reasonably prompt steps to re-rent the place. But if the LL has other units empty before yours, he can rent those before he rents yours since they were first in line. (You don't get priority over other empty places.) If you don't pay a termination fee to end your obligation under the lease, he can take you to court and get a judgement against you for the above costs. With the responsibility to re-rent, many judges in tenant friendly states limit LLs to 2 months of lost rent (thus most termination fees are written for this amount). But he will also receive the other costs. Advertising and agent fees are almost always awarded.

The judgement will affect your credit score and show up as a bad debt on your credit report. This can increase the rate on loans and credit cards you currently have. (Remember that fine print in the credit cards? If you are delinquent in an account, some cards will jump your interest rates.) Unless the place has no other vacancies and rents quickly, paying the termination fee may be cheaper. If you do pay, make sure you get a signed letter that states you have no further obligation under your lease.

I'm sorry, but a lease is a legal contract. You cannot terminate it without penalties. Once signed, you are obligated thorugh the end date. Be glad you are not in another state. Some states' laws say the LL has NO duty to re-rent and he can just continue to collect through the end of the lease.