Is there a way to get our of your lease agreement if you are layed off from work?
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Is there a way to get our of your lease agreement if you are layed off from work?
Asked on May 29, 2009 under Real Estate Law, Ohio
Answers:
J.V., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
This question is very hard to answer because the terms of a lease differ on a case to case basis. To answer generally a lease does not set forth certain reasons that would make breaking it valid such as loss of a job. The first thing you need to do is read the lease to see what if any outs the document provides
Usually the most common way to get out of a lease is to find a replacement tenant for the landlord. That way no rental income is lost and the landlord will oftentimes have no problem with this although they do sometimes require their approval of the new tenant
Otherwise the lease is a binding contract from which you are responsible to follow through with. If you break it you run the risk of being brought into cout as well as loss of the security deposit and last months rent if already paid. You should speak to your landlord and explain the situation, they may even offer some advice or possibler solutions
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