Breaking a lease means ending a legally binding contract before the lease term ends. The consequences of breaking a lease can be severe, and they can include the following:
- Early Termination Fee: You may have to pay an early termination fee, which can be one to two months rent.
- Remaining Rent: You may have to pay the remaining months' rent if you cannot find a replacement tenant.
- Legal Action: Your landlord may take legal action and file a civil lawsuit to force you to pay off the lease balance.
- Lawsuit: You may be taken to court if you break your lease for a reason that isn't legally protected.
- Tenant Screening Report: Breaking a lease agreement can appear on a document called a tenant screening report, which contains an overview of your tenancy history.
- Credit Report: Breaking a lease won't automatically affect your credit report, but it can appear on a tenant screening report.
If you want to break your lease, it's best to check your lease agreement and look into all the legal reasons you may be able to break your lease without penalty. You should also evaluate the consequences of breaking a lease with or without penalties, as it isn't always possible and could lead to severe consequences. If you're lucky, your landlord may agree to let you go, but if they don't, you may have to pay the remaining rent or face legal action.
