How to Get Out of a Lease Without Losing a Penny
Signing a lease is a very big commitment for everybody. It could be possible that you have to move all of a sudden in the near future even though you had every intention of staying in that particular location for the next year or two. In life, you never know what can come up at any moment. Therefore, in such cases, how do you get out of a lease without losing a penny? In this article, we are going to address exactly that.
Always Make Sure You Know What You are Signing
You can only get out of a lease without any losses if you have previously read the lease carefully before signing it. Therefore always make sure to read the lease carefully. Understand all the terms and conditions thoroughly before you sign it. If you cannot understand something or if you are doubtful about any condition, always make it a point to ask your landlord questions about it. This will help you find out exactly what you’re committing to and it will come in handy if you ever had to get out of the lease abruptly.
Communicate Clearly About Your Situation and be Completely Honest
Doing this is an absolute must before you move on to other strategies. Always make sure you are honest and upfront about why you are having to violate the lease. Let your landlord know if it is because of a great job opportunity or a family tragedy that caused your plans to change.
Try to Offer Them Viable Solutions
If you are in a position of having to get out of a lease, then you must ensure that you are doing everything possible to help your landlord not break his or her income stream. This could be as simple as helping them find a new tenant to replace you. If your landlord happens to be reasonable and you have helped them not go through a loss, then it is very possible for them to not charge you any extra fees.
Subletting Your Place
If you need to get out or break your lease early, then in many states it is required of both you and your landlord find a new tenant. This is often known as mitigating damages and refers to curbing or reducing financial losses that either you or your landlord would have to face because of an empty apartment. That being said, make sure that you check with a lawyer or any other legal aid office to know your rights in your particular state and the steps that need to be taken by you to do your part.
Be Aware of Your Legal Rights
Lastly, always make sure that you know all your legal rights. While your lease happens to be a contract and you most certainly owe your landlord the sum of it even if you pay monthly rent, your landlord cannot simply sit around with an empty apartment after you leave. It is required of them to try and re-rent the place to “mitigate damages.”
