How Can You Break A Rental Lease

 

Let’s face it, people usually do not enter a legally binding lease with the intention of breaking it. Sometimes life deals us challenges that conflicts with our current lease. Whether its job related, family or health issues. There is a plethora of situations that can arise that will have you asking the question, ‘How can I break my lease’.

Read your lease

Some leases provide an opt-out clause. You should review your lease carefully because you may already have an option spelled out for you.

Sub-Leasing

If your lease doesn’t provide an adequate opt-out option, check with the property manager or owner about sub-leasing the property. If the owner or landlord agree, keep in mind that (in most cases) you are still responsible for the remaining of the lease terms. Having a qualified tenant can be a win win for both you and the property manager.

Be Nice

If you have been a great tenant, ask the landlord about marketing the property to find another tenant. When one is found, then you can terminate your lease. It’s a win for everyone. Remember, the landlord has expenses for that property. Their main concern is that the property is earning income in order for them to cover all costs (including a profit). So, whether it’s you or another qualified tenant, usually doesn’t matter that much to the owner. This is where ‘nice’ comes in. The owner doesn’t have to find another tenant to release you from your lease.

Relocate to another property owned by the same owner

Depending on your reason for breaking the lease, offering the landlord the flexibility to relocate into another one of their properties may be another option.

The thing you want to keep in mind is that:
  • Situations arise where you need to vacate the property (break the lease)
  • Landlords have expenses on the property. They need tenants
  • Find a replacement tenant and it should be a win win for everyone
About PropertyZar

PropertyZar is a real estate technology company specifically in the web-based property management software for owners and professional property managers. Read more Top Property Management Blogs. Learn more www.PropertyZar.com

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