When someone applied, got approved and signed the leasing agreement, it means they are seriously ready to start moving into their new apartment. However, sometimes plans change and at that time you seek on breaking a lease before move-in
Usually the reasons are legitimate, such as, job transfer, family emergency or that you found out something horrible about apartment complex or the landlord that changed your decision 180 degrees. You need to learn what you can or cannot do to minimize the financial impact and get out of lease
without a huge monetary loss.
Will My Landlord Let Me Break My Lease?
Since you’ve signed the leasing agreement, you’ve now entered into a legally binding contract. If you, as a new tenant change your mind about moving into the apartment, then you are automatically showing all the intent to break the lease agreement. Your landlord will not simply try and let you out of your lease, but instead explain to you that there are consequences for breaking the lease
What Are My Choices?
Every leasing agreement has a lease break clause and your agreement is no exception. Usually, the lease break fee would be equivalent to 2x the monthly rent or more. Sometimes, there’s no lease break fee at all, but instead, you are responsible for the entire lease term. Your landlord will try and offer you either to pay a lease break fee or offer you to save some money and tell you to find a replacement tenant for your lease. Unfortunately, it will now be your responsibility to find someone to take over your lease. Finding a qualified tenant could take some time, sometimes even more than one month. Even if it goes beyond a month, you’re still responsible of paying your rent until someone signs over to your lease.