Terminate Lease
We are renting a house and signed a 2 year lease agreement. We would like to terminate the lease early. We were told that we could be held legally bound for just one year. Is this true?
Terminate Lease
We are renting a house and signed a 2 year lease agreement. We would like to terminate the lease early. We were told that we could be held legally bound for just one year. Is this true?
Re: Terminate Lease
If you break your lease, the landlord has a duty to mitigate the loss. Technically you are liable for any loss to your landlord due to your breach of contract. Whether he/she does this (mitigates) or not is another question. You can either sublease and control the loss yourself, or rely on your landlord to re-let and charge you for any costs or deficiency. Alternatively, the best would be to negotiate a “lease breakage fee” where you pay a fixed amount (typically 2 months rent) and you are released from your contractual obligation. Get it in writing.
Cheryl Rivera Smith
The Smith Law Firm
11660 Creek Point Drive
Frisco, TX 75035-8278