What is common penalty in Bay area to terminating lease early? My annual rent contract expires in June, but I found a great place, and I'm wondering if I would be on the hook for all five months of rent.
- SAP jordyThis topic has been discussed here previously. Read the contract, details should be there. Common practice is that you have to give 1 month notice and then pay either: 1 month of rent of penalty or pay for the time the manager takes to rent the place back. You should never try to fight with landlord, try to find a good agreement so that they give you something like above. Other landlords (if stated in contract) may try to force you to stay for the duration of contract, that is why you need to be nice and find middle ground for both. If they want to do that, you may sublease the place that is why you really want to have them in your side.
- Google thinknotYou're on the hook for the remainder of the lease until your landlord finds a new tenant. The landlord must actively try to find a new tenant, but it's hard to prove if they just sit on their hands.
Better to just approach and offer to break for a set fee (1 month) or read your lease to see if you can sublease it.