By Salvatore Friscia, San Diego Premier Property Management, San Diego, CAThe rental property meets all expectations, the location is excellent, and the rent is reasonable. However, you now find yourself in some unforeseen circumstance that requires you to relocate and consequently break your lease agreement. It was just a few months ago that the one-year lease agreement was signed, but now you’re concerned about the obligations, responsibilities, and how the landlord or property manager is going to respond.As a property management expert and owner of San Diego Premier Property Management I’ve had the opportunity to prepare, execute, and negotiate lease agreements for the better part of a decade. I can say with all honesty that this scenario happens on a regular basis to the best of tenants. Whether it is one month or six months or a one-year lease agreement, it is important to understand that the lease agreement and terms agreed upon and signed by both parties constitute a legally binding contact that when breached can carry monetary and legal consequences (read – it will cost you a lot of money).With that said, the situation doesn’t have to end poorly and can be mitigated to the benefit of both parties. If you find yourself in this situation, the first thing you should do is review the terms of the lease agreement. Search for an existing opt-out clause that will allow for an early release in exchange for an agreed-upon fee. Depending on the lease terms, if the fee makes financial sense then it may be in the best interest to utilize the opt-out clause. If not, then I suggest contacting the landlord or property management company and discussing the situation openly. I would advise on using an approach that conveys existing knowledge of your obligations and the willingness to work on a solution that minimizes the potential for rent losses in exchange for an early lease termination.With the understanding that you are legally responsible for the loss of rental proceeds for the remainder of the lease agreement, it may make sense to offer the landlord or property management company assistance in finding a replacement tenant. There are many things that can be done as a tenant to assist with finding a replacement occupant that will not only help the landlord but also minimize or completely avoid out of pocket expenses on your behalf. Offer to market the property (Craigslist, newspaper, etc), conduct daily showings, allow easy access for potential applicants, and keep the unit spotless for showings are all ways to assist the landlord or property management company with re-renting the property. If the new applicant meets all of the landlords or property managers written rental requirements then a solution may have been found.There is no guarantee for success when trying to break a lease agreement, but reviewing the lease agreement terms, openly communicating, and offering assistance with marketing the property can be a way to avoid headaches such as blemished rental history or an unlawful detainer for unpaid rent.Related:
Salvatore Friscia is a seasoned real estate investor and a residential property management specialist, focusing on single-family homes, condos, and small apartment complexes. He is the founder of San Diego Premier Property Management as well as The Friscia Group One, an investment group focused on distressed properties. He is a regular contributor to the industry blog All Things Property Management by Buildium, a property management software company.Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow. Call us today. We'll be glad to show you this home or any other property available in the area. Please feel free to contact us directly if you have any questions about the McKinney, TX 75070 real estate market, or buying or selling a home in McKinney, TX 75070.Rhonda & Cutberto Salas_www.salashometeam.com_HaloGroup Realty LLC_ firstname.lastname@example.org_ 214-598-1149 or 214- 336- 7831.www.micasaendallas.com
Author:HGR LEADS Phone: 214-239-1889 Dated: February 4th 2014 Views: 1,283 About HGR: ...
We understand that for many people, buying or selling a home is probably the largest investment decision that they will make in their lifetime. Halo Group Realty LLC thus became active in selling Real Estate in 2008 and was setup to make this process a simple and painless transaction. Your dedicated agent will guide you every step of the way to make purchasing or selling your home enjoyable and exciting… as it should be!
Today, Halo Group Realty LLC is at the cutting edge of technology in offering assistance to those in need of real estate services, and we have revolutionized the method of delivering education to consumers. Halo is established as the place for consumers to get the knowledge and assistance they deserve in the process of facilitating the Real Estate transaction, positioning you in the best possible situation to get the best price when you either to buy or sell. With leadership, innovation and forward thinking, Halo Group Realty, LLC is poised to make a huge impression in the real estate market while providing clients the keys to home ownership.
Our goal is to help make your dream a reality and take away all of the stress that goes along with purchasing or selling your home. Whether you are purchasing new construction, an existing home, or just an open space for future enjoyment, representation by a Halo agent is a valuable tool in making your dream become a reality.
Buying a home is one of the biggest investments you'll ever make. An
""Joni was an amazing realtor! She worked with us for 5 months in searching for a new home and was always patient, honest, and knowledgeable. She was always available to answer my many questions and although I know she had other clients we always felt like we had her full attention. This was the second home we've purchased and I was blown away by the service we received with Joni. Our first realtor was nowhere near to Joni's level. If I ever have to buy another home she will be the only realtor I go to and I have been passing her name along to everyone I know."