Do you need to move out of your place? If your move is unexpected, then you may need to break your lease.
Breaking a lease isn’t quite as big of a deal as people make it out to be. Yes, you’re breaking a legal contract. However, people break leases all the time. Some people get a new job a few months into a lease. Others find hidden problems with a place soon after moving in.
No matter why you need to break a lease, we can help. Here’s everything you need to know about breaking a lease.
What Happens When You Break a Lease?
A lease is a binding legal contract. When you break a lease, your landlord has the legal right to demand full payment for the remainder of the lease (i.e. rent for the remaining months of the lease). If you don’t pay, then your landlord could take you to court. If your case goes to court, and your landlord wins, then you could end up paying way more than just rent – you could pay interest and legal fees as well.
Breaking a lease can also damage your credit score.
Now that you know the consequences of breaking a lease, let’s look at how you can limit these consequences.
Find Something Wrong with the Place
Has your landlord breached the contract? Did your landlord refuse to fix problems you reported months ago? If so, then you might have the legal right to vacate your property without penalty (sit down with a lawyer to make sure).
Review the Termination Clause
Your lease might have a termination clause that allows you to terminate the lease with 60 days notice for certain situations – like job relocation or a major life change.
Some leases allow subletting, where someone takes over your lease. Make sure you pick someone completely trustworthy and reliable, because you’re still legally responsible for the property. Not all leases allow subletting.
Talk to your Landlord
In some cases, you and your landlord might be able to come to an agreement that works for both parties – especially if you and your landlord have always had a good relationship.
Need to move after breaking your lease? Call Man With A Van – 800.575.6006 – or request a quote online. Discover how affordable moving can be. Man With A Van is available in cities across the United States for moves of all shapes, sizes, and difficulty levels.