Illinois  |  Real Estate Law

Legal Question

Asked on: 3/16/02, 5:18 pm

Cancel parking space contract

I rent my parking space. Last August 1, the renter signed a contract and paid $1740 for an entire year in advance ($140 for the first six months and $150 for the last six months). Yesterday she sent me an email stating that ''as of May 1 I no longer need the parking space. As a result, I would like a refund of the $450 for May, June and July that I paid you last August.''

The contract begins ''The owner, Joe Schmoe, agrees to rent parking space #00 at ADDRESS to the renter, Jane Doe for twelve months beginning August 1, 2001 in exchange for $1740.00.''

1. Am I obliged to give her the refund?

2. If I rent the parking space to someone else and get a lower price, can I subtract that difference from the refund. (e.g. Someone rents the last three months for $100 and I subtract $150 from the refund)

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