Can You Cancel A Lease? Here’s Everything You Need To Know
There are a lot of legitimate reasons why someone would want to cancel (or “break”) their lease. Perhaps you are changing jobs suddenly and it involves relocating. Maybe the environment at your rental just isn’t what you wanted it to be. The list goes on and on. The big question is: can you cancel a lease and move before the lease is over? Yes, you can, but that comes with a lot of considerations and ramifications.
Overseeing Boston property management throughout the city and elsewhere, we manage a lot of leases and we understand there is a good deal of complexity to the day-to-day details of them. Some people have extenuating circumstances… life gets in the way. That stated, ultimately a lease is a type of contract and so there is a lot to think over when the situation does arise that a person wants to cancel or break it. So let’s dive into the considerations if you decide to go down that path.
- Can You Cancel a Lease and What Does It Mean
- Potential Consequences of Cancelling a Lease
- Advice on How to Cancel Your Lease
- For Landlords: Wouldn’t a Property Manager Help?
Can You Cancel a Lease and What Does It Mean
So there is the answer. Can you cancel a lease? Yes, you can. But not every reason for cancelling or breaking a lease is legally protected. You could be on the hook for paying the rent until the landlord or property manager finds a new tenant or the lease expires. At the end of the day, breaking a lease means that you are prematurely ending a legal contract.
The scenarios in which you can legally break a lease vary by state and locality. Instances in which you might be able to break your lease include:
Depending on state and local laws, scenarios when you might be able to legally break a lease include:
- You are a member of the military who is being deployed or permanently relocated.
- The landlord hasn’t made the needed repair. Generally, this means a repair related to health and safety.
- A neighbor is arrested after threatening you with a weapon (and the landlord fails to evict them).
- You are a survivor of family violence.
- You are the recent victim of sexual abuse or stalking.
State and local laws often do not protect any number of other reasons for breaking a lease. If you need to break a lease because you are moving to another city for personal reasons, dealing with persistent noise problems, or just have problems with annoying neighbors, you might be out of luck. Seek out specific state and local laws regarding this issue. For example, Massachusetts has its own rights and responsibilities when signing a lease.
Potential Consequences of Cancelling a Lease
Check your lease agreement and (again) check state and local laws regarding your own rights and responsibilities. If you need to cancel your lease and you don’t find yourself in a category that is specifically protected under certain regulations, there are a myriad of consequences that may happen (maybe multiple consequences). They include:
- You may be required to pay your rent until the property is leased to a new tenant or the lease ends.
- You may be told that your security deposit won’t be returned.
- You may be charged for an early termination fee.
- You may be sued by the landlord.
- You may be saddled with negative information on your credit report.
Advice on How to Cancel Your Lease
Communicate with your landlord or property manager early in the game. Also, be sure to look into whether your lease already spells out the rules for canceling it. For example, the lease might state that you can break the contract early as long as you provide a 60-day written notice and perhaps pay two months’ rent before you move out. There are often very clear ways in which a person cancels or breaks their lease and many of your questions will be answered.
Keep in mind that you may be able to negotiate with your landlord to be released from your lease before it expires. This might mean being free of financial penalties and further rent payments. Having clear and honest conversations as early as possible will go a long way towards this goal.
For Landlords: Wouldn’t a Property Manager Help?
If you’re unsure about the question can you cancel a lease, reviewing the pros and cons is important. While you’re at it, get clear on the actual repercussions of your particular circumstances. Then, talk with your landlord or property manager to get out ahead of the issue.
Not sure where to start? Contact Bay Property Management Group or check out our current rental listings to find a home that suits you. Otherwise, if you’re a landlord looking for someone to manage your properties, ask us about our rental management services!
Bay Property Management Group offers comprehensive rental management in Boston, Baltimore, Philadelphia, Northern Virginia, and elsewhere. So, whether you need help listing properties, screening tenants, collecting payments, or performing maintenance, we’ve got it covered. Learn more by contacting BMG today!