An apartment lease is a legally binding contract between the tenant and the owner. So, breaking a lease is like breaking any contract and sometimes there are certain penalties. Our life is so dynamic that moving from place to place is not such a big deal. Sometimes you get a better job that is out of town; you can no longer afford the rent, etc. You face the dilemma whether to stay in the apartment or break the lease. Before making the decision, you’ll need to know about possible penalties.
Typical Penalties Often leases specify the penalties for breaking the lease. These penalties are to deter tenants from breaking the lease and to compensate the owner should a tenant decide to go ahead and do it. There are some areas where laws govern how the breaking of the lease plays out. Common penalties include paying rent until the landlord finds a replacement or loss of security deposit or both.
Breaking the Lease If you decide to break the lease, talk to your landlord and be polite. If the situation is such that your landlord is justified in penalizing you for breaking the lease, it is up to him or her whether they actually want to enforce the penalties. Being polite and explaining the reasons why you are leaving may save you certain penalties. Do not forget to remind them that you are a good tenant; also you can offer to find a replacement yourself. If they like you as a tenant, they may be happy to receive a recommendation from you for a replacement tenant.