What Apartments Typically Require when they accept a Broken Lease?

 

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Money & Promises that it won’t happen again

To get past a broken lease, many apartments will require additional:

·      Non-refundable deposits, I have seen this as high as 1 month’s rent
·      Refundable deposits, usually ranging from $500 to $1000
·      Additional Month paid, one or two month’s rent
·      Co-Signer making 5x the rent
·      Only with 1-or2-years good rental history reestablished

It can, in some circumstances, be less expensive to pay off a broken lease than to “get around it”. It’s hard to compute the amount of additional interest rates you will end up paying for the next seven years and even items like car insurance may be higher due to a damaged credit rating; so it is best to settle this.

I think many people think the amount of the broken lease is the Rental Amount X the months you left early – and that is what the apartment or the collection agency may tell you too. But in Texas, the amount of the broken lease is:

DAMAGES + MONTH(S) VACANT = Broken Lease Amount*

*In the example of a $1000/m apartment with $200 damages, that was leased again after 1 ½ months would be: $200 damages + 1.5 vacant months (1000 rent per month) or $1700.

If the apartment is charging you more DISPUTE THE AMOUNT on your credit report. To find out when your old apartment was rented either call the complex or the energy line provider. Either should tell you.

 

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How to determine when a new tenant moves in to your old apartment unit

This is mostly relevant to you if you have to break your lease. Unless the transfer is due to military orders or verified health and safety concerns, most apartment complexes will charge you for the remaining months' rent plus damages on your credit record.

However, the state of Texas law specifies that you are solely accountable for damages and the amount of time the apartment is vacant, so when a new person moves into your old place, you will not be penalized.

This raises the question of how to calculate this so that you can challenge, what could be, a high debt.

1. You can certainly contact the housing complex, but they may not respond.

2. You can contact your energy supplier, not necessarily the one who supplied your electricity, but the organization that owns the wires - the transmission provider. They can let you know when the electricity was transferred to the new tenant.

Try not to breach a lease, however it may be necessary on occasion. Everyone understands this. You should limit the financial damage by just paying what is genuinely owed. 

For further information, visit the Texas Attorney General's website and read the articles on Renters Rights. They can also assist you.