BROKEN LEASE: The power of a Payment Plan

The Power of a Payment Plan

Broken Leases happen. I see it all the time with roommates going their separate ways or couples breaking up; in the best case, the individual can continue paying the lease until it terminates. But in others the financial impact is too great and the "surviving roommate" has no option but to break the lease.

But how you break the lease is very important. You must give Notice. You must explain to the property what happened and document it. You should ask for another apartment in the complex - an efficiency or one bedroom (assuming you can afford a smaller place) and pay the reletting fee.

You should set up a payment plan for your portion of the broken lease if you can't rent a smaller place at the same property. If you do this the impact on you (heck with the EX roommate or spouse), will be far less. I can find you a great place if you enter in to a payment plan (paying as little as $10 a month). Without it, be prepared to live in a run down facility for a year.

Not saying it's fair. Just trying to keep you from the harsh reality of a Broken Lease.