How to End a Lease Early

Fee: Reference your fees addendum or contact our office.
Timeline: 5 business days after receipt of completed application and verification forms

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.

Additional information:

  • 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.
in Residents & Commercial Tenants