I Need to Break My Lease! Now What?

It is ALWAYS best to contact your property manager and discuss your options. The written lease spells out what must happen in the event a resident must move early and "break" their lease. Many leases allow for this early move-out but the resident/tenant must pay a "re-leasing fee" to cover the cost of finding a new tenant to replace them. One month's rent is common. This covers paying REALTORS to show the house, paying managers to market the house, utilities, yard upkeep, cleaning, and periodic inspections. In addition to the re-leasing fee, rent will still be due until a new resident is found. If the rental market is in decline, this situation is more complicated, and a discussion with the property manager is needed to make sure all parties are on the same page. Residents don't want to jeopardize their credit. The most important thing to remember is the sooner a good replacement resident is found, the less money is lost by all parties. This is accomplished by the resident & manager working together.