My situation has changed, and I need to break my lease; will there be consequences?
Yes. A lease is a contract and cannot be broken when it no longer suits your needs. However, Wolfgang Property Management works hard to ensure tenants and owners are treated fairly and have the opportunity to move on when life circumstances change. Whenever tenants change, even if you find your replacement, owners and Wolfgang Property Management will incur additional costs and risk. You should understand that since an owner does not need to release you from the lease, you should offer them an incentive to do so. The standard procedure we encourage is as follows:
- Tenant agrees to forfeit the Security Deposit in full to cover costs and be released from the lease.
- Home will be move-in ready for the next tenant ( as it should be at the end of your lease).
- Tenant agrees to assist in finding a new tenant who will sign a new lease. You are responsible for rent until the day before a new tenant is paying rent for the property. The owner is required to advertise the home at the same or lower value as what you are currently renting it at. If the owner attempts to market it higher, you will no longer be liable.
Note: Wolfgang Property Management does not allow for sub-leasing or lease buy-outs.
Should you fulfill these three requirements, your lease will be considered fulfilled and you will be eligible for a good recommendation from your manager. The lease will not be considered broken.