That is, you would be assigning the remaining months left on your lease obligation to a new renter. Under this scenario, you would be “assigning your lease” to a new tenant. When you hear the term “taking over my lease”, a lease assignment is usually the situation. A huge benefit of this approach is that you are no longer on the hook for any remaining lease payments.Ī “Lease Assignment”: Lease assignments are very common. Under this scenario you would be signing a lease termination letter, and you and your landlord will be finding a new 12 month renter and signing a brand new lease contract with them. You are essentially "tearing up" the lease obligation. Check with your landlord to see which one or ones they prefer:Ī “Leasebreak”: Well, technically a true “leasebreak” means that you are breaking your lease. There are three ways you can break your lease obligation. This is because the landlord can possibly get more rent from a new tenant if you are to leave your lease early. This can usually be accomplished, especially in an environment where rental prices are rising. Ultimately, most landlords are okay with you leaving your lease early as long as they don’t have to come out of pocket financially. Why? The legal approach is expensive, messy, and often does not get you the desired results anyway. Even landlord-tenant attorneys will suggest you do this. There are many reasons why you would want to break your lease and get out of your lease obligation early: getting a new job, expanding your family, losing your job, getting married, etc.įirst, if you are going to try to get out of your lease early, we highly suggest you reach out to your landlord first. What does breaking your lease really mean, and how does one break their lease? Well, the concept of “breaking my lease” has to do with ending your lease obligation earlier than what is stated in your lease contract.
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