My Lease Is Not Up For Another Six Months. I Am Being Transferred By My Company. What Can I Do To Terminate The Lease?
The answer to this question will be found in your lease. First, read the lease carefully. Your ability to get out of the lease depends on the language of your lease and the willingness of the landlord to allow you to terminate the lease early. There may be a provision which allows for termination prior to the lease term`s expiration. If so, you will need to follow the terms of that lease provision. For example, you may be required to give thirty (30) days notice and to forfeit your security deposit. Some leases impose additional penalties for early termination and require longer notice periods. You are responsible for paying rent during the notice period. Your lease is not terminated until the notice period expires. If there is not an early termination provision in your lease, a tenant can be held responsible for all the rent remaining under the lease. The landlord is required to mitigate any damages by rerenting the premises. If the landlord does rerent the property, any rent collected must be deducted from the original tenant`s liability. For example, if a tenant terminates a twelve month lease after six months, the tenant can be held responsible for the six months rent remaining under the lease. If the landlord rents the unit to someone else after four months, the tenant is only responsible for the four months rent while the unit was vacant. However, if your lease had an early termination penalty provision, you would have to pay the designated penalty even if the unit was immediately rerented or if it was vacant for six months. Some landlords may release you from the lease if you find an acceptable person to assume the lease. Some landlords will allow you to rent to another, called subletting. The landlord may refuse to allow you to do this. If your landlord agrees to allow you to terminate early, be sure to get in writing any agreement as to penalties or future rent owed.