How do I get out of my apartment lease without ruining my credit?

Question

I found a house I want to buy but I have 9 months left on my apartment lease. I can't find someone to take over my lease and I need to do it right away. Help!

Answer 1

You are locked in until they find another tenant. Typically as long as you continue to make your rent payment until they find a tenant (not necessarily until the end of your lease), it will not effect your credit. In this case, you will lose your security deposity because they will use that to cover the cost of getting the apartment ready to re-rent and for advertising for a new tenant.

If it is in an apartment complex where there is a waiting list to get an apartment, you will most likely not have to pay rent for more than an additional month. Again, you'll just forfeit your deposit.

The only way it is going to ruin your credit is if you bail and don't work with management. If you haven't talked to management, I would go to their office (better to go in than to call) and simply tell them that you have found a house that you would really like to buy and that you being tied into the lease may hinder that opportunity. If they have a waiting list, then I don't forsee them giving you any problems with breaking your lease early. In reality, the actually make a little money off of you because you did break it early (as we all know that the cleanup costs - if you have been a good tenant - are not what you gave them as a security deposit) and if they have a waiting list, they have no advertising costs.

Answer 2

Have you advertised for sub leasing in your local papers?
If you have, and you still aren't getting any bites, then I suggest that you discuss the issue with the landlord. They will tell you what penalties you will have to pay for breaking your lease.
If there are a lot of empty apartments in your complex, count on your landlord trying to get you to pay for the entire lease agreement. If they have a waiting list, they may go easy on you, say one or two months rent as a penalty.

Answer 3

Most leases have a termination clause that only requires you to pay the a certain dollar amount (usually 2 months lease) if you break the contract early. If there is no termination clause, it generally means you're on a month to month lease or you're not going through a management agency.

Also consider things like Craigslist and roommates.com to see if you can find someone to take over your lease.

Answer 4

Well they may have a fee you can pay to break your lease.. most landlords do. Typically it can be as high as 3 months rent though. And that wouldnt effect your credit score at all.

Other then that, or simply begging your landlord , there is no way to not have it effect your credit.

Answer 5

sleep with the landlord?

maybe you can negotiate a buyout penalty, perhaps your security deposit plus an additional month's rent?

Your landlord would probably rather have you leave on your own and vacate than have to say kick you out for non-payment (which can take months). Make it into a win-win.

Chances are, he can rent the place out for more with you out of there anyhow. If you sacrifice the security deposit, he'll probably help you move himself.

Answer 6

You can offer to buy yourself out of the lease and see if the landlord accepts your offer. OR, you can skip out on your contract, lose any security deposit, and risk your landlord taking you to small claims court for the remainder of the lease.

On what basis do you THINK you should be let out of this lease?

Answer 7

Ask the apartment manager if she can help you out.
She might have a solution.

Answer 8

Talk to your landlord. Maybe you can give them a lump sum.