Terminating Your Lease: What You Need to Know

If you’re looking to move out of your rental before your lease is up, you might be wondering how to go about terminating it. Fortunately, there are steps you can take to protect both yourself and your landlord in this situation. In this article, we’ll go over the basics of terminating a lease and what to expect.

Understand Your Lease

Before you start the process, it’s important to understand your lease. Typically, you can find language in the lease that outlines the process for terminating it. Read through your lease to determine what’s expected of you.

Lease Termination Fees

Most leases will require that you pay a termination fee if you move out before the lease is up. This fee is meant to cover the costs associated with your early departure, such as searching for a new tenant. Make sure you understand the amount of the termination fee before proceeding.

Send a Termination Letter

Once you’ve decided to terminate your lease, you should send a termination letter to your landlord. This letter should include the date that you intend to move out, the reason for your departure, and any other relevant information. Be sure to keep a copy of the letter for your records.

Return the Keys

Once you’ve sent the letter and you’re ready to move out, make sure to return the keys to your landlord. Before you do this, make sure that you’ve cleaned the property and that all of your items have been removed. Once the keys have been returned, you’ll be free to move on to your next home.

Conclusion

Terminating a lease can be a complicated process, but with the right steps, it’s possible to do it without too much hassle. Make sure you understand your lease, calculate any termination fees, send a termination letter, and return the keys before you move out. By following these steps, you can protect yourself and your landlord throughout the process.