Timeline: 5 business days after receipt of completed application and verification forms
In the event that you need to end your lease early, here is some helpful information to assist you. An early lease termination occurs when a sole resident (or, in multiple roommate situations, more than 50% of total residents) desires to move out prior to the end of the lease. You have two options: resident(s) may opt to find a qualified replacement resident on their own or engage our listing agent to find a replacement resident.
Finding a replacement yourself:
- If you opt to find your own replacement, please know that the property must be marketed for a one-year lease at a rental rate to be determine by Longford and approved by the Owner, which may be greater than the current rent. Please consult our office to determine this rate.
- Replacement resident(s) must meet Longford screening criteria and receive Owner approval through our normal application procedures.
Let us find a replacement for you:
- If our Agent’s schedule permits, we are happy to find a replacement resident for you. All you need to do is let us know you are interested in this option and we’ll take it from there.
- In addition to the $1,000 processing fee, an additional charge will be applied equivalent to 80% of the new monthly rent for your unit. Please consult our office to determine this rate.
- Longford will perform move-out/in inspections at no additional cost.
- Cost of turnover cleaning and painting may be withheld from terminating resident’s security deposit.
- Terminating resident shall be released from their lease obligation effective the day before the start date of the new lease (lease end date) regardless of their move-out date. Rent continues to be due on the 1st of the month. If applicable, a prorated portion of rent will be returned within a reasonable time, likely with the security deposit.
- Terminating resident must keep utilities on and paid until the lease end date.
- Terminating resident’s security deposit, less any amounts withheld, will be returned within 45 days of lease termination or in accordance with the law.
- Terminating resident(s) must sign a Notice to Vacate document in order to memorialize the end of the lease agreement. Contact our office for this form.