Canceling a Lease
We recognize that sometimes things happen and you need to cancel your lease. The short version of the process is that you need to give us notice, pay a fee, and have vacated your apartment on the day specified in your notice to us. We'll then terminate the lease once a new lease is signed for your apartment. Note that you would still be responsible until the new lease goes into effect. You can see the actual lease clause below.
Here's an example of the termination process:
Suppose you had a lease that ended in December, but you needed to move in October for some reason. In July you send us a check for the Termination Fee and a letter that says something like: "I will be vacating my apartment on August 30 and request that you re-rent my unit and terminate my lease." Once we receive these items, we will start to market your property for rent.
Under these circumstances, the best-case-scenario would be that we find someone who wants your apartment for October 1st. The worst-case scenario would be that we couldn't find anyone to rent your apartment and you would have to pay the rent through the end of your lease.
Pro-tip: In order to have the best chance to find someone to re-rent your apartment we recommend two things:
- Give us notice as early as possible -- the early you let us know, the more time we have to market your unit
- Do whatever you can to personally market the property -- talk to friends and colleagues to see if anyone is looking for an apartment
The relevant lease clause:
Tenant may end this Lease and move out of the Property before the End Date of the Lease or any Renewal Term only with written permission of Landlord, and only if:
Tenant continues to pay all rent until the End Date of the Lease, or any Renewal Term, or until a new tenant is approved by Landlord and a new lease takes effect, whichever happens first, AND
- Tenant gives Landlord written notice, AND
- Tenant pays Landlord a Termination Fee of $250.00, AND
- Tenant has vacated Property and removed all persons and personal property by or before termination date.