Sometimes an occasion arises where you need to move out of a rental property before the end of your lease term. Unfortunately, we cannot let you cancel a legally binding contract, but we have procedures in place that let you re-let the property and turn over your lease to another tenant.
First, you need to decide when you will be leaving the apartment. Once that decision has been determined, come to our office and fill out a re-let form. A re-let form states your intention to vacate the apartment at a certain date and put your apartment back on the rental market. The re-let form also lets you offer any incentive (like transferring your deposit ) that you think will make your apartment more marketable. Putting your apartment up for re-let requires a $50.00 administrative fee so make sure to bring cash, check, or money order.
Once you have declared your intention to put your apartment back on the market, you have three options for finding a new tenant.
- You can find a tenant yourself. If this is your preferred option, then you need to have the new tenant come in and go through the application process. If they are approved, we will draw up a lease and you are officially out of your obligation to us.
- You can let us find a tenant for you. We will advertise and show your apartment, plus handle the administrative processes. If you choose this option, you will owe us a commission equal to one month’s rent.
- You can do both. While we are showing your unit, you can also search for a potential tenant. If you end up finding the new tenant, you will owe us a commission of half a month’s rent. However, if we find the tenant, you are still responsible for a commission equal to a full month’s rent.
There are pros and cons to each method, and I encourage you to think them through fully before making your final decision.
Most importantly, you are still responsible for your lease until a new tenant has signed a new lease and paid the new account balance. We at the office will make every reasonable attempt to help you secure a new tenant, but sometimes depending on the time of year or location of the property, it takes time or doesn’t happen at all. Just keep this fact in mind.
Hope this helped clear up one of our most frequently asked questions!