How can I terminate a lease agreement without causing my landlord any trouble? I am moving to New York.
I am presently working in Detroit and am planning to take up a job in New York City. I am planning to terminate my lease prior to the date mentioned in the lease agreement. The lease agreement is silent on the termination of the lease agreement. I am now half way through the period mentioned in the agreement. My Landlord is a kind man. But I don’t want a lease agreement to be the reason for not taking up a prospective job. Can I give notice to my landlord and terminate the lease agreement? What are my options?11/10/2016 | Category: Landlord Ten... » Lease Termin... | State: Michigan | #26502
However, if you do give notice, your landlord is obligated to try to re-rent the unit. If the landlord is successful in finding a tenant who is ready to pay the same amount of rent as you were paying, you will not have to pay any damages or loss of rent. If the landlord has to rent it for less than what he was receiving when your tenancy was on, you will have to compensate him for the loss of rent. You would also be responsible for any costs associated with the re-rental of the unit.
In your case, it is advised that you find a suitable tenant to re-rent your place before you move from the city. In almost all like scenarios, you are likely to lose one month’s rent as mitigating damages in accordance with the state law because you have broken your lease agreement. This will mostly be deducted from your security deposit with the landlord.