How to Get Out of Your Apartment Lease Early?
You want to get out of apartment lease early, but you also know that the potential consequences of breaking your lease can be quite detrimental to your credit history. Nowadays, as you are aware, everything gets reported to a credit bureau and it stays on your record for up to 7 years. Yikes! So, if you ever had to break a lease, and then 2-3 years down the road you get married with children, looking to settle down and purchase a new house…well, guess what? Your mortgage banker will find this blemish on your credit report and either might decline you a mortgage or offer you a high interest rate instead. Neither is pleasant. Unfortunately, breaking a lease can have major consequences, creating a domino effect that can impact your personal finances for years, as well as your credit score. So, is there anything else that a landlord can do if you should break your lease early? Of course. Here are a possible scenarios: 1. Landlord will file a Civil Lawsuit against you You are fully aware that when you signed your lease, you signed a legally binding agreement. And if you ever default on your payment, your landlord has full right to take legal action. And believe me, they won’t budge about it. In most cases, a judge will be on the landlord’s side and you will lose the case. You may have legitimate reasons for breaking your lease, such as going thru a divorce, illness or even a job loss. However, in court, this is not a valid excuse for breaking your apartment lease early. 2. Real headache renting a place AGAIN Let’s assume you broke the lease and just left without caring for any consequences whatsoever. How do you think you will be affected? Well, very easily so. Your future landlord will request references from your previous landlord, who at this point is absolutely mad at you for breaking his lease. At this point, your previous landlord has filed against in you in a civil court. Your new landlord will review your credit report and will see this breach of contract. Of course, it will cause your future landlord to deny your rental application. 3. You can now forget about getting your Security Deposit back You’ve decided to get out of your apartment lease early by breaking the lease…and your landlord has filed against you in court for unpaid rent. Do you think he will return your security deposit back? Absolutely not. Any judge will side with the landlord on this and you have no ground of asking for a return of your security deposit. If your security deposit was $100-200, then it’s not much to lose. However, if your security deposit was equivalent to a one month’s rent, say $1500, then yes, it’s a pity to lose all that. 4. Your BEST and ONLY alternative is to find the short-term renter If you want to know how to safely get out of your apartment early without any lawsuits, extra charges or loss of security deposit, then you just need to find the replacement tenant to take over your existing lease. All you need to do is go to your leasing office and explain your situation as to why you need to leave before your lease expires. Many landlords would allow a lease assignment to a new tenant. So, essentially, it would be your responsibility to find a tenant ready and willing to take over your remaining lease. It is very stressful to do on your own and it’s best to hire a professional agency to take care of this for you from A to Z. There are several companies out there, but they charge an arm and a leg. Call Takeoverlease.us at 412-219-2808 and find out how efficiently they can help you get out of your apartment lease in a matter of 14 days.