Do broken leases get reported to credit agencies?

Question

If i broke a house lease (owner uses real estate agency), will that be reported to credit agencies and show up on my credit report?

Answer 1

Did you have to fill out a credit application to move in? If so they can definitely report you and yes it will go on your credit. Odds are since this is a real estate company they can and will do it. This is why they check your credit when moving into most places. If you have a broken lease they will not rent to you. Many times if you just rent from the actual owner they can't report you, but being a "business" real estate offices have the means to do so.

If you must leave for some reason go and talk to the agent. See if they will let you out of it. Many times they are willing to work with you or will just charge you a fee for breaking your lease. If you leave on bad terms not only do you have a high risk of ruining your credit you have also just lost your most recent reference and this could prevent you from renting on your own for many years. Really think this through - bad credit is extremely hurtful.

Best of luck to you! =)

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Answer 2

It depends. Do you owe any money to the landlord? If you owe money for clean up or damages to the home or if your lease states that you have to pay rent until the end of the lease or the home is rented out again, you could indeed have the amounts reported to a credit reporting agency.

My husband lived with a girlfriend years before we met. They had a lease in both names on an apartment. They split up and both moved out before the lease was completed and the apartment complex did not rent out the apartment for months afterward. Because of the terms of the lease, they were liable for the rent until the lease was up. They both had $4000.00 plus collection fees placed on their credit reports.

When we went to buy a house, we ended up having to pay off the full amount to get a mortgage. The credit agencies wouldn't remove the debt from my husbands credit report even when we offered to pay half and leave the ex's half on record. They both signed the lease and couldn't have the debt removed until the full amount had been paid.

Answer 3

Assuming you pay the fee to break the lease, then no, it wont be. If you dont pay your lease breakage fees, or get evicted, then yes, it will show on your credit, and it will show forever.

Being that the owner is using an agency, they are probably pretty serious about it and probably will report it if you dont break in the correct way.

Answer 4

If you left owing money and the agency took you to small claims court and won the case, they can report it to your credit report. Most of them do that now because they so many people run out on leases. They figure if they can't get money, it will hurt your credit.

Answer 5

It can...if the owner tries to use a collection agency to recover the balance due for the rent.....or if the owner gets a judgment for the balance due...which would be reported in the public records section of your credit file.

Answer 6

It will depend on if the owner has membership to do so - if not they will probably sell it to a collection agency for pennies on the dollar who will in turn report it

A judgment would have only happened if you were behind on your rent and an eviction was filed - if the judge sides with the plaintiff, that is where the judgment is created - keep in mind, they can only go to court on generally on RENT only - depending on the state your reside in.

Answer 7

It's up to the owner of the property.

Answer 8

lease is a contract and should be fulfilled.

best talk to the agent, and maybe with a penalty you can revoke it.

Answer 9

depends on the company, if it's a large agency, probly so