Can I Terminate My Lease Early?

Your Obligation to Fulfill Your Lease

By default, the lease states that you must fulfill the entire duration of your lease and give notice not to exceed the notification period (section 1(a) of the standard NC Rental Contract).

Recourse for Non-Fulfillment

If a tenant does not fulfill the duration of the lease, the owner can take legal action for any financial damages incurred including but not necessarily limited to:

  • Balance of rent for the remainder of the lease
  • Commissions paid to third parties to re-rent the property
  • Advertising expenses
  • Legal fees & court costs
  • Actual expenses related to preparing the property to re-rent (both damage and normal wear-and-tear)

What Counts as Non-Fulfillment?

The lease defines abandoning or vacating the property as moving the majority of your personal possessions out.

Potential Alternatives

We understand that sometimes life happens. Whether you are looking to buy a new home, are getting relocated for work or something else, we may be able to work with you for an early lease termination. If you are able to terminate your lease early for a fee, you will be responsible for:

Tenant's Responsibilities

  • Give us a date you intend to vacate
  • Keep power, water/sewer, gas (if applicable) on and in your name until the new tenant moves in
  • Continue paying rent until the new tenant moves in
  • Pay a lease break fee 
  • Pay the costs associated with getting the property ready to re-lease
  • Costs associated with maintaining the property while vacant (cleaning, lawn care, etc.)

Management Company's Responsibilities

  • We will advertise the property for rent. We can usually start within +/- 4 weeks of when you intend to vacate.
  • We will let you know when the property has been leased and will enter the appropriate charges to your ledger based on the tenant's responsibilities above
  • We will apply your security deposit to any related charges and let you know of any balance due
  • We will send you the same move-out documentation you would receive in a normal move-out situation

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