When a Tenant Moves Before a Lease Expires
Q I'll be renewing my lease on Nov. 1 for one year. I'd like to move sometime next year. What will be my responsibility if I decide to move during the lease term?
A Absent a landlord's consent to an early termination, the letter writer may be liable for the payment of the agreed-upon rent for the balance of the lease term, said Lucas A. Ferrara, a real estate lawyer and adjunct professor at New York Law School. "An owner's response to this kind of request will be a function of a variety of factors, including market conditions," Mr. Ferrara said.
If another tenant can be found at the same or higher rent, a landlord would likely agree to a release and enter into a new tenancy arrangement. "Problems arise when a replacement cannot be found at the same or better rent," he said. "In such an instance, the letter writer may be required to pay the full rent -- if the space were to remain vacant -- or any difference between the writer's rent and a new tenant's rent if the apartment is re-rented for less than the previously agreed amount in the writer's lease."