Most renters tend to make plans for the next 6 to 12 months. However, sometimes life throws you something unexpected that changes your whole life plan, including breaking your lease.
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Top tips to help you avoid breaking your Lease
1. TOP TIPS TO HELP YOU
AVOID BREAKING YOUR
LEASE
MOST RENTERS TEND TO MAKE PLANS FOR THE NEXT 6 TO
12 MONTHS…
2.
3. However, sometimes life throws you something unexpected
that changes your whole life plan, including breaking your
lease.
You may have been offered a better job in a new state, or you
and your partner may be expecting a new baby and need some
more room. Whatever the situation, the thought of breaking
your lease can keep you up at night.
Before you forfeit your deposit of the remaining rent owed on
your lease, it is advisable that you know your options and then
discuss them with your landlord or property manager.
4. TALK ABOUT YOUR SITUATION
If your life situation has altered or you have a problem with the
property, talk things through and don’t assume you have to deal with
it alone.
Start by talking to the landlord or property manager. We may live in a
world of emails and digital communication, but a face to face
discussion can be more beneficial than an email exchange. Be concise
and clear when you inform them about your circumstances and why
you are unhappy or are in need of a change.
5. Before knocking on your landlord’s door or making an appointment with
your property manager, carefully think your situation through and decide
whether you really need to be breaking your lease.
Some problems can be worked out with the manager. If your roommate is
leaving and you will struggle to afford the rent by yourself, the property
has some issues or the noisy neighbors are contributing to a miserable
living situation, your manager should be able to work with you to help fix
the issue.
6. Property managers and landlords are used to having to deal with these types
of problems and will most likely have some sort of operational framework in
place to help resolve them, whether it be unpleasant noisy neighbors or issues
with the property itself.
Let them know what is making you unhappy and you may be surprised at how
quickly the issue can be resolved, without breaking your lease.
7. CONSIDER YOUR OPTIONS
After you have spoken to your landlord or property manager and
discussed your situation, you may both decide that it breaking your
lease is necessary. However, you can then work through your
available options.
Depending on the scale of the company that is managing the
property you are leasing and the terms of your lease agreement, you
might have several options available to you.
8.
9. If you require more room or need to downsize, you may be able to move into another
property in your building. This can be an easy and attractive option if you are expecting a
baby and will need more room in your home, or if your roommate has left the apartment
and you require less space and more affordable accommodations.
You can also check to see if your landlord or property management team has another
property available at a different location. If you need to relocate for your job, it could be
that your property management company owns several buildings in other states and
there is an option that you can transfer.
However, depending on state tenant laws, your lease terms or tenancy agreement, some
of these changes to your lease may involve fees.
10. NEGOTIATE YOUR LEASE BEFORE YOU SIGN ON THE
DOTTED LINE
Although you may have some options, the best way to avoid breaking
your lease is to make sure you negotiate before you agree to the
rental terms.
If you are considering buying a house in the near future, it would be
worth trying to include a mortgage clause. The length of time to
complete the purchase of a property can be unpredictable, especially
with a short-sale home. It is a good idea to have a flexible lease that
won’t hit you with heavy fines.
11. If your job requires you to relocate, you can negotiate
a clause in the lease that covers relocation.
You can’t always predict every change and turn life will
bring, but for the ones that you can, try to include a
clause in the lease that gives you a loophole.
12. TRY TO THINK AHEAD
Negotiate your rental agreement before moving into the property to
have the best chance of avoiding breaking your lease.