If you’ve recently been informed that you need to move for work, or if you’ve simply had enough of your property manager, it may be time to start apartment hunting again. But what if you still have a substantial amount of time left on your current lease? Breaking your lease may not be easy. When reading through your lease, there are a few things you should look for and consider before apartment hunting for a new unit.
Approach Your Property Manager
As a courtesy, you should approach your property manager and make them aware that you are considering breaking your lease. If you have been forced into the situation because of your career or a family emergency, your property manager may be understanding and flexible with the situation.
If you are unhappy with the unit and express concerns, your property manager may make efforts to address your complaints before you take further action. Your lease may specify that you need to give written notice a certain number of days prior to breaking the lease.
Consider The Cost
Breaking a lease will almost certainly cost you, and it’s important to know beforehand whether you can afford to do so. It’s a near certainty that there will be penalties for breaking your lease. Penalties should be outlined in your lease but can include things such as forfeiting multiple months’ rent and your security deposit.
Additionally, many property managers will hold you responsible for the rent until another renter takes your place. Thus, if you can, you should find a replacement tenant that can move in immediately before you decide to move out.
If you’re looking for a premier rental unit in Michigan, consider an apartment or townhome with Lockwood Residential. Lockwood units are affordable, and working with a Lockwood property manager can simplify the apartment hunting process.