If you have signed an apartment lease and want to get out of it, it can be complicated to get out of that lease without any consequences.
A rental contract is a legally binding contract. Once the contract has been signed, both parties have agreed, and the earnest money has been paid, it is a legally binding contract. The only way you can get out of the contract at that point is to get the landlord to agree to the contract release, or you can show specific reasons to rescind the offer.
Table of Contents
- A Lease Is A Legally Binding Contract
- Ensure All Contract Changes Are Documented in Writing
- Frequently Asked Questions
- Related Questions
A Lease Is A Legally Binding Contract
Some jurisdictions or some areas may have what is known as a cooling-off period for consumers to be able to change their minds. But generally speaking, a lease for signing an apartment lease is a contract with real property and does not have a cooling off period. Once the signed copies are delivered to both parties, they will become a valid contract.
By contacting the landlord or the owner within three days or even one day after you have signed, the contract will not automatically terminate your obligations. The reason is that once an offer and acceptance have been made, the contract becomes a legally binding document.
A contract is legally binding because if everyone were allowed to say they changed their mind when they signed a contract, then having a contract would be just a worthless piece of paper. That is why the laws on the legally binding nature of contracts are so strict.
That is also why if you lease an apartment, you know it is the apartment or place you want to lease or rent before you sign the contract and pay for the security or other deposits. Once that contract is signed and money paid, you are legally bound by the terms of the contract.
You Can Ask Landlord To Agree To The Release Of The Contract
If you are trying to get out of an apartment lease after signing the lease, the best thing you can do is try to get the landlord to agree to allow you out of the contract and out of your lease agreement.
But you must understand that the landlord is under no legal obligation to allow you out of a lease or contract you have signed.
If the landlord agrees to allow you out of a lease or legally binding contract you have signed, you should be okay with getting out of the contract. But if the landlord does not allow you out of the lease or says you can get out of it, they can hold your deposit and enforce the contract.
Rescission Of Contract
In some cases, you may legally rescind a contract if you have grounds to break the lease because the advertising was dishonest or did not show the property as it was.
If the landlord was dishonest in advertising the property, or there were many unforeseen repairs or damages to the apartment, you may have a case for rescission.
A valid rescission would then legally terminate you from the terms of the contract and the obligations of the contract.
For a valid rental contract rescission, you must explain why you are rescinding the contract and outline the issues with the apartment that would allow for a legal rescission. Then you should send that notice to the landlord and return the keys to the premises as soon as possible.
If you have a problematic landlord or are in a complicated legal situation, you may want to get legal advice and help.
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Ensure All Contract Changes Are Documented in Writing
One of the biggest mistakes that most people make when it comes to contracts and other legally binding contracts, such as rental leases, is that they use verbal confirmation and not written confirmation on specific changes.
Many contracts stipulate that modifications cannot be made verbally but must be recorded in writing. This is particularly important if you’re considering making changes to your lease. Ensuring that any alterations are formally documented in the contract is essential.
Secure Written Confirmation for Verbal Agreements from Landlords
If your landlord has given you a verbal agreement that you can break your contract or get out of your lease, then you need to get them to write this down and have a written record.
The main thing that you must remember is that all rental contracts are legally binding. Once both parties have signed the contract and the contract has been delivered to both parties, the contract is legal. Any changes you want to make to the contract should be written down and not just given verbally.
If you can get the landlord to release you from the contract, you should not have a problem with being released from the contract.
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Frequently Asked Questions
Can I change my mind after signing an apartment lease?
Yes, you can change your mind, but there may be legal and financial consequences for breaking a legally binding contract.
What is a legally binding lease?
A legally binding lease is a contract between a tenant and a landlord that outlines the terms and conditions of renting a property. Once both parties sign, it becomes legally enforceable.
Can I back out of a signed lease without any consequences?
Generally, no. Breaking a lease may result in penalties such as losing your security deposit, being responsible for rent until a new tenant is found, or even facing legal action.
Can I negotiate with the landlord to cancel the lease?
Yes, you can try negotiating with the landlord for lease cancellation, but they are not obligated to agree. It depends on their willingness and the terms outlined in the lease agreement.
What are the valid reasons to rescind a signed lease?
Valid reasons might include a breach of contract by the landlord, uninhabitable living conditions, or significant life changes that prevent you from fulfilling the lease, like military deployment or job loss.
How do I approach my landlord about canceling the lease?
You should communicate your situation honestly and professionally. Provide any necessary documentation or evidence to support your request.
Will I lose my earnest money if I back out of the lease?
It’s possible. Many leases require an upfront deposit (earnest money), which could be forfeited if you decide not to proceed with the lease after signing.
Can the landlord hold me accountable for rent until a new tenant is found?
Yes, in some cases. Landlords might have the right to hold you accountable for rent until a suitable replacement tenant is found, as per the terms of the lease agreement.
What legal actions can the landlord take if I break the lease?
The landlord could take you to court to recover unpaid rent or damages resulting from breaking the lease. This could negatively impact your credit and rental history.
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