Thursday, 23 January 2014

Need to Break Your Lease? Here’s how

When you lease an apartment, most companies and landlords require at least a one year lease.  You can see this from both sides.   They don’t want to have to find new tenants every other month and you probably don’t want to be stuck in a lease.  A year is a long time and a lot can happen in that time, plans and lives change.  If you need to get out of a lease before it expires, try the following tips…you never know they may get you out!

1.       Read the contract again, very closely.  Most likely it will outline what would happen should you break the lease; this will be your starting point.
2.       Talk to your landlord.  You never know what they will say, maybe the rents have risen and they will be able to get more money from a new tenant.
3.       Check with your province’s laws regarding this.  Usually, there are certain situations that are acceptable and legal reasons to end the lease.  However, if you do fit into one of these categories, make sure you can prove it – because you can be certain they will ask you for it.
4.       Many landlords or apartment buildings are okay with you ending the lease if there is no delay with them renting it right back out.  This means if they can find a tenant for the place, you could be off the hook.  Ask them if you can be looking for new tenants too.  Also, ask them about subletting procedures.
5.       No matter what happens, don’t be surprised if you have to pay a penalty for breaking the lease.  You may not get one, if you have any luck with the tips above, but don’t be surprised.
6.       If you find something questionable in the lease, look it up.  Leases do not trump law, and if there is something against the law in a clause in your lease, you may just find your way out.  Most places have tenant’s boards where you can ask any questions you may have.
7.       It is very important that through all of this, you keep very good recorded track of everything you have done and any interaction between you and your landlord as well as other people you have contacted.  Keep all your documents!

Getting out of a lease can be very trying, and if you are in this situation, I wish you the best of luck.

Sincerely,
Astra Mulawka
Sales Representative
Better Homes and Gardens
Signature Service





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