I have a broken lease!
The vast majority of apartments will not work for you if you owe money to another rental property or break a rental agreement. The properties that will work with you have different qualification criteria. Almost without exception, the property will want to know that you have reinstated your rental history. Some of them will want additional deposits and it usually depends on how much you owe on the property you broke the lease on. Apartments can go back to the beginning of time by checking rental history. Even owning a property 10 years ago can easily get you denied.
I have a broken lease out of state!
Once a broken lease is reported to the credit reporting agency, it will show up no matter where you are. If you owe money on a property, most of them will not work with you. In effect, a breached out-of-state lease is the same as a breached lease with a local apartment. Your options will remain the same… make payment arrangements or go to a property that works for you.
I don’t have a broken lease, but I owe money on a property!
Usually that means you owe a cleaning fee is something like that. Again… the apartments don’t work for you. But usually the amounts owed are not too much and you can make arrangements to pay them.
I have a broken lease. but my credit is good!
Many apartments, especially newer ones, use a point system like Saferent or Credit Retriever. If you score in the exception range and have your background checked, some of them will work for you. But most apartments will automatically deny you if you owe money to another property.
I have more than one broken lease!
Difficult… but not entirely impossible. They will charge you an additional deposit and may require a co-signer. The additional deposit can be as much as one month’s rent. Sometimes first and last months. Very few apartments will do this.
I have a broken lease and spotty credit!
There are a small number of apartments that will work for you, but you must have reinstated your rental history and it must be verifiable. Living with your mother, aunt, cousin, or uncle may not count as rental history in many rental properties. Just because you don’t currently have a lease doesn’t mean you don’t have a verifiable rental history.
I don’t have a broken lease, but my roommate or spouse does.!
Most rental properties will not list your roommate as an occupant. Everyone over the age of 18 occupying the apartment must be on the lease and qualify to live there. It could easily be denied. There are still some properties that will work with an occupant situation, but it’s getting harder and harder to find them. It’s ridiculous when people making between $50,000 and $100,000 a year can’t qualify for a $500 a month apartment… but it’s a fact.
I have an eviction!
This is a bigger problem than a broken lease. Even apartments that will run on a broken lease may not be subject to eviction. The reason is that they had to take you to court. This is a significant expense for properties, not to mention an inconvenience.
I am in a lease right now and I want to end it!
Stop… take a deep breath. Are you sure that’s what you want to do? Breaking a lease with an apartment in is one of the leading causes of denials and severely limits the number of rental properties you will qualify for. It will stay on your credit forever, until you take care of it, and of course you will be denied most places you go.
What are payment arrangements?
Before your broken lease goes to collections, you have a window of opportunity to make arrangements to pay off your lease in small AFFORDABLE payments. The manager will give you a letter saying that he is making arrangements and that many apartments will work with you. There are many, many properties that insist that you pay in full before they work with you.
I have made payment arrangements. Why was I denied?
Most rental properties want your broken lease to be paid in full before accepting it. Fortunately, there are some properties that will work with payment arrangements. What this means is that you return to the property where you broke your lease and tell them you want to pay off your broken lease. Fixes can be $20, $30, $50 a month and maybe more. What you agree with the property manager. NEGOTIATE… Make your first payment and receive a letter indicating that you have made the necessary arrangements to pay the broken lease. Then with that letter… you can go to the apartments that will work with you. It is important that you continue to make payments or the property will return to your credit.
I signed with a friend and they skipped the rent!
You have a broken lease…sorry! You can dispute it on your credit or find your friend and ask him to make payment arrangements. But you are responsible for the point of view of the apartment.
How to legally break a lease.
If you are in the military and are being transferred or relocated… no problem! Otherwise, you will have to pay a re-rental fee. Usually 85% of a month’s rent. Sometimes you will also have to return concessions. (let’s say you got $250.00 off your first month’s rent) Many apartments will hold you responsible for rent until you rent again. That’s the scary part… be sure to clear that up with the manager. No property can charge 2 rents on the same unit at the same time. Talk to your apartment manager and make it clear that you understand their policies regarding rental rates.
I am receiving mail from a collection agency regarding my broken lease!
This means that it has been reported to the credit bureau and is now on your credit report. Your broken lease is official. You’ll have to pay it off, make payment arrangements, or find a rental property that works for you. When you find yourself here, you almost have to work with an apartment locator or real estate agent.
I broke a lease, but I also had a very good reason!
For all practical purposes, an apartment lease is ironclad… let me repeat that… ironclad. If it is absolutely necessary for you to break an apartment lease, talk to your manager or landlord first, explain your situation, and try to make payment arrangements with them. Most of them understand and will work with you. Some of them will lean back. Property managers can be understanding, but remember they’ve heard it all. There are procedures that must be followed to the letter. That’s why most of them can’t accept partial payments (although many will…for a while). In practical terms, most people break a lease because they lose their job or get divorced. Sometimes a family member gets sick. Sometimes it is an abusive situation. As sad as it is…none of these things will matter if you don’t abide by the terms of your lease…sorry.
Someone broke into my car and I left!
No one wants to live in fear, but an apartment lease is foolproof. That means you will end up with a broken lease. I’ve seen apartment managers let people out, but it’s usually one of those unfortunate things, from an apartment standpoint. Definitely tell the manager and call the police. What happens will be at the discretion of the manager. Be thorough and have documentation when you talk to him/her.
They said I didn’t give them a 30 day notice!
The apartments are very strict about it. You must give proper notice and they must know that you have given proper notice. Write it down, date it, and make an extra copy for your records. DO NOT LEAVE IT ALONE IN THE BOX AT NIGHT. Despite the fact that you have met the time on your lease, you could still end up with a broken lease because you did not give proper notice. Worse yet… you could be denied at the next property you’re looking at. Most properties want you to give notice no later than 3 days. There are quite a few apartments that require you to give a 60 day notice. Make sure you know exactly what the policy is. Ah, one more thing! Just because you’ve lived there for five years, paid your rent on time, and been an ideal tenant, don’t think they can’t terminate your lease without proper notice.
