So, you’ve recently signed a lease to your new apartment, but an unforeseen circumstance has suddenly forced you to uproot your life.
Whether caused by financial matters, family issues, or a job relocation, you need to find someone to take over your lease, but you don’t want to worry about someone not paying rent on time.
In that case, a lease transfer is ideal. Here are four steps to transfer your apartment to someone else.
Your lease agreement outlines the relationship between you and your landlord or property manager.
The lease document also contains important information like your monthly rent, rental term length, and the number of occupants allowed in your unit.
It’s not uncommon for tenants to misplace a lease agreement or read through it quickly before signing.
If you can’t find your rental agreement, ask your landlord or property manager for a copy.
Once you have your rental agreement, read through it carefully.
Specifically, look through your lease agreement to see how your landlord or property manager deals with a lease transfer.
For example, some apartment managers require a processing fee with your lease transfer application.
Here are some of the specifications you may expect to see in your lease agreement:
For most lease transfers, written consent from your landlord is required.
Your landlord or property manager’s written consent is a document signed by them and, eventually, you and the new tenant.
Sometimes your landlord or property manager will require you to pay a processing fee to transfer your lease to someone else.
Your landlord or property manager determines (if there is a fee) the amount, so it is possible to negotiate the price.
For example, if you are nearing the end of your lease, you can avoid a fee.
However, for the most part, if you want to avoid a transfer fee, it typically depends on your landlord’s reasoning for the payment or your reason for moving.
If your new tenant cannot meet the eligibility requirements to take over your lease, your landlord or property manager can refuse a lease transfer.
For instance, if it appears your new tenant cannot pay rent on time (or have a bad credit history), then your landlord or property manager has a reasonable excuse to deny your wish for a lease transfer.
In many lease transfers, it is your responsibility to find a new tenant, so you should consider verifying their financial stability.
Finding someone to take over your lease is taxing, especially if you want someone trustworthy and stable – which you do.
And, not to mention that finding a replacement becomes even more challenging when you’re urgently looking, but not impossible.
We suggest that you find a couple of potential candidates to take over your lease because it is always a good idea to have more than one interested renter.
Facebook Marketplace, Craigslist, or any other websites where you can list your apartment, is an efficient way to advertise your place.
When listing your apartment, be sure to include photos, rental cost, utility costs, location, etc., when trying to find a new tenant.
Sometimes, people around you are looking for a place to rent for a short time, so word of mouth is another way to find a new tenant.
In other words, ask friends, family, and co-workers if they or anyone they know are looking for a place to rent.
Just remember that finding someone who can prove their ability to pay their rent on time will help put you and your landlord or property manager at ease.
In turn, you are making the lease transfer process smoother.
If you are having trouble finding someone, think about offering to cover their first month’s rent or, if possible, paying the first couple of months’ utilities. Essentially, try to provide incentives to entice people to take over your lease.
Lastly, another way is to ask your landlord or property manager if they have anyone who has shown interest in renting a place in your complex.
You will need your landlord or property manager’s written consent to transfer your lease to someone else.
Them saying, “Go for it,” isn’t enough – it needs to be on paper.
The best way to get this is to schedule an informal meeting with your landlord or property manager.
We recommend not doing this until you have a new tenant in mind, as it will show your urgency and seriousness in transferring your lease.
Before speaking with your landlord or property manager, research your state’s laws regarding a lease transfer to someone else.
Different states have different rules, so make sure you know the limitations of your landlord or property manager’s authority.
For example, in California, a landlord needs a reasonable cause for denying a tenant’s motion for a lease transfer. But, if the landlord’s refusal seems unreasonable, it is the tenant’s responsibility to prove it.
Whether or not you have developed a positive relationship with your landlord or property manager, there are some things that you can do to ensure your conversation goes smoothly.
But, first, note that a mutually respectful conversation is the essential determinate for an easygoing lease transfer.
So, try to treat your landlord or property manager with respect and kindness – no matter your history together.
Things To Discuss and Bring To Your Meeting
- Have a new tenant (or a couple) eager to take over your lease.
- Have undisputed evidence that your new tenant is financially secure, like pay stubs and a good credit score.
- Explain your reason for moving – especially if it is something out of your control.
- Offer to pay the remainder of your rent for the month or next month’s rent.
- Discuss the documents you’ll need to finalize your lease transfer.
Once your lease transfer is approved, don’t be afraid to clarify the terms you and your landlord or property manager settle on.
Specifically, your replacement should have the sole responsibility for paying the remaining rent. Hence if the new tenant fails to pay on time, your landlord or property manager cannot look to you.
Moreover, this is why it is essential to show that late payments are nothing more than a hypothetical possibility because you’ve proven your replacement’s excellent rental rapport.
So, you’ve talked to your landlord or property manager, and they’ve declined your lease transfer.
Now, even more than before, your urgency to get out your lease has become your top priority.
First off, it’s okay to acknowledge how maddening a stubborn landlord or property manager can be, especially when your reason for moving out is out of your control.
Now, if you believe your landlord or property manager doesn’t have a legitimate reason to refuse your lease transfer, then here’s what you should do: contact a real estate lawyer.
A specialized landlord-tenant lawyer could help you dispute your landlord or property manager’s decision if you feel they unreasonably rejected your lease transfer.
A landlord’s legal rights vary depending on the state you reside in. Therefore, a real estate lawyer should be well-informed of your state’s landlord-tenant laws.
Once your landlord or property manager has approved your lease transfer, it’s time to write out the official documentation.
An official record of a lease transfer should include your landlord or property manager’s signature, your signature, and the new tenant’s signature.
Additionally, it should have the address of the place from which you are transferring your lease.
While this could be as simple as scratch paper with all the information mentioned above, there are lease assignment templates you can fill out and print.
However, the above might not be necessary, as your landlord or property manager may have a document of their own that you and the new tenant must sign.
Hopefully, with our guide, you have successfully transferred your apartment lease to someone else.
Now that you are free from your contractual obligations, it’s time to focus on getting the apartment ready for the new tenant.
Lastly, although not a formality, it doesn’t hurt to communicate with the new tenant to guarantee a trouble-free move-out process.
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