Can I Get Out of My Lease If I'm Fired?
Getting out of a rental lease after being fired helps avoid a legal battle with your landlord and possible credit damage. Landlords and leasing contracts differ, and getting out of a lease if you've been fired depends largely on the terms of your lease contract.
Lease Conditions
Some apartment units and houses are in high demand, wherein breaking the lease after being fired may not result in a loss for the landlord. But before submitting your notice to vacate the unit or house, read your lease agreement closely to learn the consequences of early termination. Some rental contracts spell out legal steps that your landlord may take. What's more, some landlords understand the likelihood of unforeseen occurrences such as job loss and include a lease clause that allows early termination without penalty upon losing a job.
Severance Pay
Not every lease includes an early termination clause, and if you can't break the lease after being fired, talk to your landlord about other options. For example, if you received a severance after losing your job due to lay off, or if you have cash in savings, take this money and pay off the remaining lease balance. This way, your landlord does not lose any money and you avoid legal consequences.
Considerations
A landlord may modify your lease term and allow early termination if someone is waiting to rent your unit. Talk to your landlord about vacating early once they have a new renter to take your spot. In some instances, the landlord may sign a tenant within days or weeks. Help speed the search for a new tenant by recommending applicants and mentioning the availability to relatives or acquaintances.
Legal Consequences
If possible, do not break a lease without working out an agreement with your landlord. Negative consequences can include a credit judgment and drop in personal credit rating. The chances of being able to rent another unit or purchase a house decrease significantly, and you may end up owing back rent if the landlord sues. Approach your landlord respectfully and professionally, and provide ample details on your situation. Upon reaching an agreement, get the new contract in writing.
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