How to Break Your Lease the Right Way

Breaking a lease is never ideal, but circumstances may come into play that gives you no choice. In an instance such as this, there is a right way and a wrong way to get out of your legally-binding lease. Many landlords are willing to work something out as long as you are able to provide legitimate proof for your decision. Here are four things to consider when breaking a lease. 

1. Loopholes In The Lease

Most experienced landlords know there are certain circumstances that are beyond your control. As such, they will include releases that allow you to get out of your lease without consequence. For example, should you need to move into a rehab facility or assisted living, you’d be able to break your lease without hassle or further expense. 

2. Job Loss Or Transfer

If you work at a job that likely will transfer you in the future, be sure to ask about that before signing a lease. If you lose your job, speak with your landlord as soon as possible to come up with a solution that works for both of you. This might be as simple as a payment plan or even finding someone else to take over the lease. 

If you get transferred, your company may pay the fees associated with breaking your lease. Speak to someone in the HR department to learn more about this possibility. 

3. The Landlord Is At Fault

A lease is a contract signed by both you and your landlord. You both have an obligation to uphold your respective ends of the contract. If the landlord fails to keep his end of the deal, you may be able to get out of your lease.

For example, if your landlord fails to make repairs or a pest problem goes unresolved, you have a reason to break your lease. The laws vary from state to state, so check with an attorney to make sure you have grounds for breaking your rental agreement. 

4. Do Not Bail On Your Lease

The worst thing you could do is run out on your lease without notifying your landlord. Regardless of the reason for breaking the lease, not working it out with the landlord will only hurt you. 

You are responsible for the remainder of the rent through the end of the lease term. If you bail on that, the landlord can turn it over to a collection agency who will do everything in their power to collect. Other landlords won’t rent to you, and you’ll have a black mark on your credit report that follows you for years. 

Most people don’t even like to think about breaking a lease, but sometimes life makes it necessary. Before you break a lease with your landlord, however, be sure to consider the advice above.