Have you ever rented from a place that has a concession lease agreement' Well, this one does, and it can rip you off big time if you want to terminate your lease early. With the price of rent going down, I was offerred a deal of $800 for a 1 bedroom apartment. I was under the impression that the lease termination penalty fee would be around $2000 like other places, so I paid the deposit fee of $150 and $44 application fee, expecting to move in as soon as my application was approved.

When I got back to look at the apartment and sign the lease agreement, the apartment was not even cleaned properly (restroom was extremely dirty) and the lease agreement was unpleasant to look at. There was a concession agreement stating that if I want to terminate the lease early, I would need to pay roughly $1500 for cancellation fee, $400 for half month free rent, and $250 for the discount I was given for each month in my contract (because normal rent is $1050). The total could be up to $5000.

I was not willing to sign the contract with the concession agreement, but they couldn't change anything on it due to the fair housing act (meaning if they changed it for me, they would need to change it for other renters). So, I asked for my deposit back and they refused to give it back, saying it was already deposited to the bank. I decided to let them have the deposit and find myself another apartment. I could still afford to lose $150, better than $5000.

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