Do I need to pay penalty if I end my renting period earlier?

Question

Hi,
let say if I rent an apartment for 12 months period but I need to move out just after 6 months as I change my job to far away, do I need to pay all other 6 months rent?
Thanks in advance.

Answer 1

In most cases, if you have signed a contract/lease then you are legally responsible for the rent until your lease is up. If taken to court and it was a legal and binding lease, the court would rule in the landlords favor.

In reality, if you are a good tenant, are on good terms with the landlord and explain your situation, he would probably let you out of the lease provided he could get another tenant. He might just charge you for the days/weeks it was empty.That's how I would handle it, and I'm a owner/landlord.

I just noticed that a couple of people mentioned you subletting the apartment...., Be cautious with this, as you could possibly still be held responsible any damages they might do, or if they move out before the time is up. ---- Be sure you have a legal and binding contract with them>and STILL be cautious.

Answer 2

That actually depends on the exact wording of the lease. Some leases allow you to get out with no penalty if you change jobs, but that rarely happens unless you requested that to be put into the lease at the original signing. So essentially, you are legally obligated to pay the entire 6 months rent, even if you don't live there.

Here's my suggestions:

1. Sit down for an hour or two and throughly read your lease contract. Look for loopholes or ways you can legally terminate the lease before the end of the period.

2. Explain the details to your employer. Many companies provide financial assistance if relocation is necessary.

3. Try to find a sub-let for your lease. Craigslist.org is a great place to post an advertisement for free.

4. Worst case scenario, explain the situation to your landlord. Let the landlord know you cannot financially afford to pay rent there anymore and explain why. Then, work with the landlord to find a sublet. You are obligated to pay the rent until a sublet tenant is found.

Answer 3

Read your lease, or if you dont have it you can request a copy from the rental department. All leases are different. Some state a $200 early term fee, or jsut lose your deposit, others you are required to pay until the unit is reoccupied, others you have to pay half the months left on the lease, then they are the ones you are responsible for the entire thing no matter.

Good Luck~

Answer 4

It depends on the lease you signed when you move in. some annual leases say right on them that you'd be responsible for all the rent due for that year whether you live there or not. And that's even when you give them notice you are moving. Landlords in that case will usually remind you before you move out what it says in the lease.

Answer 5

You need to look at your lease to see what the ramifications of breaking your lease is. Some leases may just end up with you losing your deposit, but some leases may require you to uphold your end of the lease (pay the remaining months of the lease). You could perhaps look into having someone sublet it from you, or check with your landlord to see if you can get out of the lease if you find someone else willing to take up the remaining period of your lease.

Answer 6

You will not have to pay the remaining six months of your lease. If hes a good guy, he might give you the deposit back(being though your switching jobs). or might be a heartless shark and say you broke the lease early, so u dont give your deposit back. depending on the lease you agreed to. Read it carefully and make sure you dont get taken advantage of.

Answer 7

They usually will charge you a fee for breaking your lease .Talk to your apartment manager about what that fee is .Look in your lease .It usually requires A months notice .If you just move out it will go on your credit that you broke a lease

Answer 8

It all depends on your lease agreement. Typicaly you have to pay some termination 2-month rent plus 30 days notice.

Thanks
DD http://ezdough.blogspot.com

Answer 9

No. you would be unable to flow with out penalty. As you renowned, that paragraph replaced into no longer crammed out by using the owner. IF it have been, then between the checked provisions might have utilized. even though it wasn't. the owner has no longer agreed to any of those strategies. you may wish to argue that because of the fact the owner did no longer conform to a penalty IN THAT PARAGRAPH, that there should not be a penalty. incorrect. Please examine the 1st component to your lease--the place you commit to lease from one date to a distinctive date--case in point, July a million by using June 30. The lease probable says something like "lease volume is $12,000, payable in month-to-month money of $a million,000." (it's going to specify the month-to-month volume, yet often additionally checklist the excellent volume of the lease.) that's binding. You (and the owner) agreed to that. The paragraph you're stating related to early termination applies on condition that the two you and the owner conform to a discounted penalty for early termination. the owner did no longer conform to that. So, you're certain by using the words of the lease. the owner did no longer agree--the two by using checking one among those packing containers or his failure to ascertain one among those packing containers--to permit you to pass out with out penalty on 30 days be conscious. in case you opt for to pass out early, communicate on your landlord and attempt to attain some settlement on what the penalty (if any) must be. Get it in writing. wish that enables.

Answer 10

Depends on the lease you signed. My guess is you won't but you will not be able to recover the deposit you put down if you end your contract early. Check the lease you signed, it should say.