Tips For Breaking a Lease Without Breaking the Bank

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September 17, 2012 ‐ By

Image: Photodisc

It doesn’t need to be said because we’re sure you know this, but just a quick reminder: A lease is a binding contract. When you sign a lease, you commit to a year (or two) of paying rent to that landlord, no ifs, ands or buts. BUT sometimes, you just have to go.

A landlord could decide that he’s just not going to have it no matter how nicely you ask, no matter how much you beg. You could be charged for the months remaining on your lease or you can choose to take the matter to court. Black Enterprise offers a few pointers for getting out of your lease with the least amount of financial pain. One piece of advice:

Find a tenant to take over the lease. If you find a suitable tenant to take over your lease, you might be able to avoid paying the remaining balance.”

There are, however, some instances in which you can legally break a lease, among them, a serious illness. The site suggests doing some homework before making the big move, to see if there’s any wiggle room. And don’t make the big move under the cover of night.

For more, click here to visit BlackEnterprise.com.

 

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