Relocating? Things You Need To Do If Living On Rent
Ramesh Shah got a job in a different town. He wanted to move as the salary hike looked impressive. However, this meant that he had to terminate his rental agreement. There are many instances like this which force people to end their rental agreement. In such a scenario, what must you do? Breaking the lease in a correct way is very important or the landlord may sue you or take money out of your security deposit.
MakaaniQ lists ways to break the lease in a correct way:
Read the rental agreement carefully
It is very important to read the rental agreement carefully. The agreement may allow you to terminate the lease by giving a 60-day notice period in case of job relocation, major life change or in case you want to be a caregiver. Different kind of rental agreements need different kinds of notices to vacate. In case of a month to month rental agreement, it is necessary to give a written notice to the landlord a certain number of days before the rental period terminates.
- Being respectful
Being respectful is a way out. Talking to your landlord and telling him about your relocation is a way out. Also, giving a timely notice period will do the job.
- Paying fees
After trying all the options, if you cannot stay for the remainder of your lease then you have only one option left which is to pay the lease's termination fees. Hire a good lawyer in case your landlord gets unreasonable.
- Find an option
Subletting is another way to find a great option to lease your home. It is important to find a responsible renter for subletting your rental property. But it is very important to carefully select the tenant. Ensure that he has a steady job, a good source of income and a good credit score. Make sure your landlord is agreeable with this new tenant.
Also Read: Why You Should Choose A Furnished Apartment