Lease Break Info
We take our obligation to both residents and landlords during a lease break seriously. If you are a current resident in one of our managed properties, please contact your property manager right away to complete our Lease Break Form to start the process. This is your chance to be involved in the process if desired. You will also need to submit a signed Notice of Intent to Vacate.
It’s important to note there are costs associated with breaking a lease. These costs include – but are not limited to – rent while vacant, marketing costs, leasing fees, cleaning or other turnover costs related to your lease break.
The BEST way to minimize cost to you is to just get the property re-rented as quickly as possible; this is always our top goal.
Here are the steps you need to follow:
1. If you have not done so already, please give our office formal notice of the date you will vacate. Marketing cannot begin without a written Move-Out Notice.
2. You are obligated to the full value of the lease contract. This means you must continue paying rent until the day a new tenant takes over. Please continue to pay your rent on time until we notify you a new lease has been signed. Failure to pay rent will result in significant additional costs for you. Your security deposit CANNOT be used for last month’s rent.
3. Please keep the utilities on until a new tenant is found, even if you move out. Our team needs lights to show the property, and if there is a yard, the grounds need to be watered, waste removed, etc. Failure to keep utilities on will result in additional costs to you.
4. Keep the home in presentable, showable condition, and make it as easy as possible for our team to show the property! The easier it is for us to show, the more prospects we can bring in that door, the sooner the property will rent and you will be off the hook!
5. While you cannot actively engage in marketing the property for rent yourself (as you are not a licensed real estate agent contracted with the landlord), there are a few extras available if you want to do a little more. Let us know if you want to add any of the additional marketing efforts listed on our Lease Break Form.
6. Sometimes our residents may know of friends or contacts who might be interested in leasing the property. If you have someone who is interested in your property, please complete this form below and we will contact them to arrange a showing. If you know someone who would like to apply, applications are accepted here 24/7 on our website.
Remember, we’re here to help. While an early lease break generally causes stress for everyone (owner, tenants, property management company!), please remember that the best way to solve this problem is to just get the property re-rented as quickly as possible.
We thank you for your time with us to date, and look forward to helping you with a smooth transition out.
Performance Built Management for Results-Driven Investors.
With over $1 Billion in homes served since 2010, our experienced team understands the seasonal markets, up and down economies, the price points, the tenant pool, as well as the local vendors and contractors needed to help your investment thrive. How can we help protect your property today?
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