Likewise, if you decide to purchase the vehicle, and it is damaged, you’ll avoid having to pay a hefty wear-and-tear fee for reconditioning when you return it at the end of the term. Breaking a lease can be one of the worst financial decisions you ever make because you cannot break a lease unless you have a legal reason to do so. What happens if you have to break a lease? If you walk away without a compelling reason, then the landlord is within his rights to charge you for the full amount of rent right up until the end of the lease term. We all know they are legally binding documents. That means your landlord is within their legal right to pursue you in court for remaining rental payments, as well as damages for loss of income and the cost of finding a new tenant. A significant change in your financial situation is reason enough to break a lease. There are a handful of scenarios where a tenant can legally break a lease in Florida without penalty. Considering that the average rent price in New York City is north of $3,500 for a one-bedroom apartment, that’s going to be a major blow to your wallet. While you may not have any other option but to break your lease, you may find yourself: Facing a lawsuit by your landlord – A lease is a legal contract. If breaches by your landlord are pervasive and severe enough, you will be able to not just move out penalty-free but also sue your landlord for a constructive eviction. Some modern lease agreements may provide specific terms that would allow a tenant to terminate a lease early in exchange for a penalty fee. You need to get out of your lease early. Then, a year or two into your lease agreement, something changes. To get out of a housing lease, under the relief act and without penalty, you must: Prove you signed the lease before you entered active duty, and that you will remain on active duty for a minimum of 90 days. Early Termination Clause. If you take the right steps, you can end your lease early and avoid costly penalties. Landlords in New York—and, in particular, New York City—tend to charge high penalty fees in order to let you break your lease. You'll still pay a few hundred dollars to transfer the lease. If you’re able to transfer your lease, you can get out of the monthly payments without paying early termination costs. If you have to continue to pay your rent at the old place there’s almost no way you can manage, we know. 1. An early termination clause may allow you to break your lease without a penalty in case of unforeseen personal events, such as getting laid off or losing a family member. These can range from one to three months’ rent. The truth is, anyone can break their lease at any time—you just need to know the consequences. If you’re going to rack up an extra 15,000 miles by the time the lease is up, you could face a penalty of $2,250-$4,500. 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