Thursday, October 23, 2014

How to Break an Apartment Lease Agreement Without Penalty

Without getting any further into this blog post, let me say one thing - you should never try to break your apartment lease. Period.

There are various ways on how you can avoid breaking your apartment lease and you don't have to be a genius to succeed.

It's a legally binding agreement

Why do you think a landlord makes you go over like 30 pages of the annoying fine print right before you get keys to your new apartment? Your landlord is trying to save his own butt from deep troubles that may await him in the near future, should you end up being the wrong tenant for him.

Read your lease carefully before signing

This is something 50% the new tenants will fail to do.
You're sitting there so excited to get those new keys, check the amazing views from your new apartment and totally daydreaming while your landlord is going over your paperwork that you're about to sign. I bet you missed all the important stuff and will later face all the issues with the move out. 

How to Break an Apartment Lease Agreement Without Penalty

Your leasing agreement always has some kind of clause that states what you must do in case you cannot fulfill the entire part of the lease.

As mentioned above, it's one of those things that everyone should pay attention to during the signing of lease and ask your landlord on the consequences of getting out of lease early. 

Usually, there's only one way - it's for you to find a replacement tenant to take over your lease in full. Unfortunately, it all your responsibility and your landlord will certainly confirm it.

If you don't find yourself someone to take over your lease, then you would either be obligated to pay off remaining months off or break the lease, which would cost you approximately two months worth of your rent payments, plus a forfeiture of your security deposit. For example, if you pay $1000 per month and your security deposit was $500. Then, to officially break the lease with your landlord, you'll be obligated to pay $2500. Unfortunately, that's the law and your landlord will hold you to it in court, should you fail to pay, as stated on your leasing agreement. 



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