There are times when either a tenant or a landlord will want to break a lease.
Why A Tenant Would Break A Lease
A tenant may want to break a lease for a variety of reasons, some legitimate and some not . . . at least in the eyes of the landlord.
Maybe a group of roommates rented the house and now one has left. Or the tenant may have lost a job. Or there’s a personal situation such as a divorce or major illness.
Why A Landlord Would Break A Lease
There are also times when a landlord wants to break a lease.
One example is if the landlord owns a single-family house that is a rental and decides to sell.
It’s almost always easier to sell a vacant house rather than one that is occupied. Buyers – especially those looking for a home of their own to live in – don’t want to have to deal with a tenant.
Or sometimes the tenant doesn’t cooperate with showings or keeping the house in good condition. Even if they say they will. This is a stealth way of a tenant sabotaging the potential sale of the house they’re living in so that they can continue to rent.
A landlord might also want to consider breaking a lease if the tenant is simply too much trouble. Even if a landlord knows how to find and keep great tenants, it’s always possible to end up with a bad tenant.
Some tenants need to be constantly reminded to pay their rent on time. Others constantly need something fixed or are disruptive to the next door neighbors.
Tips To Breaking A Lease
To avoid time, trouble, and possible property damage, smart landlords try to make breaking a lease a win-win situation.
First, find another tenant. Be especially sure to check their references and verify the tenant’s income.
Next, make the first tenant responsible for making sure everything is clean and in good working order, and the the house is move-in ready.
Lastly, have the new tenant take over the remaining term of the existing lease, and sign a new lease as well.
Doing this will minimize any loss of rental income or unnecessary repair expenses, and create a win-win situation for both the landlord and the tenant who wants to break a lease.