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Breaking a Lease: What You Need to Know

Are you considering breaking your lease early? Whether you’re relocating from California to Connecticut, dealing with a noisy neighbor, or facing unaddressed maintenance issues, there are various reasons why you might want to end your lease prematurely. But can you do that? Yes, you can break a lease early, but it can be complicated and costly.

Can I Break a Lease Early?

While you can break a lease early, not all reasons for doing so are legally protected. Regardless of the reason, you may still be responsible for paying rent until the landlord finds a new tenant or the lease expires. Breaking a lease means ending a legally binding contract prematurely.

Depending on state and local laws, you might be able to legally break a lease in scenarios such as:

• Military deployment or permanent relocation
• Unaddressed health and safety repairs
• Failure to install or fix a smoke alarm
• Crime activity on the property
• Threats from a neighbor
• Survivors of family violence
• Victims of sexual abuse or stalking
• Unlawful harassment by the landlord
• Inaccurate property ownership information

Other reasons, like moving to another city or dealing with noise problems, are often not legally protected. However, some landlords may allow you to break a lease for non-legal reasons, such as a job transfer.

Negotiating with your landlord might help you get released from your lease without financial penalties. Check your lease for any clauses that outline the rules for canceling it, such as providing a 60-day notice and paying two months’ rent.

What Happens if I Break a Lease Early?

If you break a lease early without a legally protected reason, you may face consequences such as:

• Paying rent until a new tenant is found or the lease ends
• Losing your security deposit
• Being charged an early termination fee
• Dealing with debt collectors
• Being sued by the landlord
• Receiving a bad reference for future rentals
• Negative information on your credit report

How to End a Lease Early

To avoid trouble when ending a lease early, follow these six tips:

1. Review the Lease: Understand your rights and responsibilities. If you don’t have a copy, ask your landlord for one.
2. Look Into Legal Help: Consult a tenants’ rights group or legal aid organization if you’re unclear about the lease terms.
3. Notify the Landlord: Inform your landlord in writing as soon as possible, often requiring a 30-day notice.
4. Search for a New Tenant: Finding a new tenant might help you avoid penalties.
5. Consider a Sublease: Check if subletting is allowed and find a tenant to take over your lease.
6. Ponder Hiring an Attorney: If legal action is mentioned, consider hiring an attorney experienced in tenant representation.

What Does Breaking a Lease Do to Your Credit?

Most landlords don’t report rent payments to credit bureaus, so breaking a lease won’t automatically appear on your credit reports. However, if you owe past-due rent and the landlord sends your debt to a collector, it will be reported to credit bureaus and affect your credit scores. This information can stay on your credit reports for up to seven years.

Additionally, a canceled lease can appear on a tenant screening report, which covers your rental history. Negative information in this report can make it harder to qualify for future leases.

The Bottom Line

Breaking a lease can be tricky. In some cases, you might be able to cancel a lease with little trouble, but in others, you could face issues like losing your security deposit or incurring fees. To stay on top of your credit, check your Experian credit report for free and take steps to improve your score.

For any mortgage-related needs, feel free to call O1ne Mortgage at 213-732-3074. We’re here to help you navigate your financial journey with confidence.

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