Have you now decided to move out of your parents place and rent out an apartment all on your own? Are you aware of all the responsibilities for paying your rent on time and consequences of breaking the lease?
When you sign an apartment lease, you are entering a legally binding agreement which cannot be taken lightly or easily broken. Remember the time when you signed an agreement that you will pay off your student loans, once you graduate? It's somewhat of a similar concept.
There could be various reasons why you may want to break your apartment lease before it officially ends. One of the main reasons is when people find a job and must relocate there. Other reason maybe when a family purchases a house and they need to move out of their apartment, as soon as possible. Another very common reason is when someone loses a job and they have to move in back with their parents or friends and cannot afford to pay all the rent.
Some folks just think that they can simply walk out of their lease and in fact some do exactly that. However, they later realize that this move will haunt them for many years to come and it won't be very pleasant.
First of all, breaking your lease early will cause some serious legal problems. You could get sued by your landlord very easily. Landlord will also go after your credit and this blemish will stay on your credit report for 7 years. It will cause you tremendous problems when you'll try to get a mortgage or a car loan. You would be denied it or offered a very high interest rate.
When you break your lease early, your landlord will certainly not return your security deposit back to you. Some folks don't care about it because some may only have a small deposit, but others may seriously regret it, as their their security deposit could be much larger, like $700 to $2000.
Therefore, now you may ask yourself a question, is it really worth to be hot-headed and break your lease and face all these consequences or perhaps there could be another way out?
One way to avoid all these issues is to grab your leasing agreement and read entirely to see if you may work out an "assignment of lease". If you cannot find this clause in your leasing contract, call your landlord and ask the following question "If I need to leave before my lease is up, can i find a replacement tenant and do an assignment of lease?" Most likely, your landlord will allow it.
If you find someone to take over your apartment lease, your landlord will allow your to leave without any penalties, lawsuits, blemishes on your credit and will even return your security deposit, considering you have not damaged the apartment.
There are a few lease management companies who help with a replacement tenant search, but only a few do an amazing job.
Find out more on how to find someone to take over lease, so that you can find a common solution for you and your landlord.
Take Over Lease is a full management leasing company who finds tenants in as little as 48 hours. Visit http://www.takeoverlease.us to find out more info.
Article Source: http://EzineArticles.com/?expert=Paul_M_Mileny
Article Source: http://EzineArticles.com/8227160
When you sign an apartment lease, you are entering a legally binding agreement which cannot be taken lightly or easily broken. Remember the time when you signed an agreement that you will pay off your student loans, once you graduate? It's somewhat of a similar concept.
There could be various reasons why you may want to break your apartment lease before it officially ends. One of the main reasons is when people find a job and must relocate there. Other reason maybe when a family purchases a house and they need to move out of their apartment, as soon as possible. Another very common reason is when someone loses a job and they have to move in back with their parents or friends and cannot afford to pay all the rent.
Some folks just think that they can simply walk out of their lease and in fact some do exactly that. However, they later realize that this move will haunt them for many years to come and it won't be very pleasant.
First of all, breaking your lease early will cause some serious legal problems. You could get sued by your landlord very easily. Landlord will also go after your credit and this blemish will stay on your credit report for 7 years. It will cause you tremendous problems when you'll try to get a mortgage or a car loan. You would be denied it or offered a very high interest rate.
When you break your lease early, your landlord will certainly not return your security deposit back to you. Some folks don't care about it because some may only have a small deposit, but others may seriously regret it, as their their security deposit could be much larger, like $700 to $2000.
Therefore, now you may ask yourself a question, is it really worth to be hot-headed and break your lease and face all these consequences or perhaps there could be another way out?
One way to avoid all these issues is to grab your leasing agreement and read entirely to see if you may work out an "assignment of lease". If you cannot find this clause in your leasing contract, call your landlord and ask the following question "If I need to leave before my lease is up, can i find a replacement tenant and do an assignment of lease?" Most likely, your landlord will allow it.
If you find someone to take over your apartment lease, your landlord will allow your to leave without any penalties, lawsuits, blemishes on your credit and will even return your security deposit, considering you have not damaged the apartment.
There are a few lease management companies who help with a replacement tenant search, but only a few do an amazing job.
Find out more on how to find someone to take over lease, so that you can find a common solution for you and your landlord.
Take Over Lease is a full management leasing company who finds tenants in as little as 48 hours. Visit http://www.takeoverlease.us to find out more info.
Article Source: http://EzineArticles.com/?expert=Paul_M_Mileny
Article Source: http://EzineArticles.com/8227160
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