if someone breaks a renters (apartment) contract will it reflect on their credit or just renters contract. My friend is wanting to purchase a house and wants to break her contract. should she wait? She knows she wont get her deposit.
2007-11-27 08:23:38 · 4 answers · asked by Aikalee 2 in Business & Finance ➔ Renting & Real Estate
If the owner sends the account to collections for unpaid rent, utilities, damage repair costs, advertising costs, etc. that are incurred because of the break-lease, it might damage her credit. It's never a good idea to break a lease.
I would suggest she wait until her lease is close to expiring, then become a month to month tenant. That way she still has a place to live but either she or the landlord can end the lease with, usually, 30 days written notice. So much more flexible than a fixed term lease.
2007-11-29 08:30:28 · answer #1 · answered by Willow Natalia 6 · 0⤊ 0⤋
On your friend's lease there was probably a clause in there that if she breaks the lease that such and such will happen. It could be anything from she doesn't get her deposit back to she must forfeit two months rent. But no, it will not affect her credit for breaking her lease but she needs to find out what the penalty will be for doing so.
2007-11-27 16:29:55 · answer #2 · answered by Einstein 3 · 1⤊ 0⤋
If she breaks her lease, the likely outcome will be a judgement against her in small claims court. Which the landlord can take to any credit agency and it will be added to the individuals credit report.
2007-11-27 16:37:52 · answer #3 · answered by AJ 7 · 0⤊ 0⤋
it will find it's way into her credit file...........
2007-11-27 16:31:26 · answer #4 · answered by richard t 7 · 0⤊ 0⤋