Taking Over a Lease
Taking Over a Lease

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If you’re looking to say an early, “Goodbye!” to your rental space and slip your way out of a lease before it’s ended, you’ll often have a couple of options. You’ll usually have the choice of paying some sort of fine or amount of the rent you promised to pay initially, or you can find someone to take over the lease for the rest of its duration. Now, it truly depends on the stipulations in your contract, but if you have the option, finding someone to take over your lease is likely the easiest way out. And even for those who stick it out until the end but choose not to renew a lease once it’s over, finding someone to rent a space after you leave can sometimes come with an incentive. Reduced rent perhaps?

 

Again, it all depends on your property manager and the terms of your lease contract. But, if you find yourself looking for someone to take over your spot in a rental space, there are a couple of steps you should follow.

 

First, be sure to speak with your landlord about your desire to end your lease early. They will likely be able to help in finding someone to cover the lease. Because it will surely mean lost rent if they don’t find someone, your landlord will want the space filled as quickly as possible.

 

If you’re at a loss for where to find potential lessees, be sure to search online forums like Craigslist or Facebook Groups for any individuals looking for rental space in your area. It can also be helpful to spread word through friends or social media to see if any acquaintances are searching for a space to rent as well.