Thursday, October 16, 2014

What's the average cost to break an apartment lease?

The average cost to break an apartment lease differs for everyone.  The reason being is it all depends on how much you pay monthly for your apartment rent.

The consequences of breaking an apartment lease could be quite severing for most people.  The industry standard is usually a fee of two months rent, plus a non-refundable security deposit.

average cost to break an apartment leaseSo, if your monthly rent is $1000, and you put down another $1000 security deposit to move in, then breaking an apartment lease would cost you a total of $3000  ($1000 x 2 months, plus $1000 security deposit).

However, imagine how some people have an apartment rent
al of $3000-$4000 per month in California or New York?  Those would be some atrocious fees that someone would end up paying to get out of their lease.

So, an average cost to break an apartment lease will really depend on how much you pay monthly and then multiply it by two, to make it a two month's rental fee.

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