Leasing Practices Blog
By: Sophie Emerson
Hey Rams! It is getting to be the time of year where you are deciding where to live and who to live with. Maybe you’ve already decided, are feeling out your options, or have changed your mind. If you are someone who has already decided where to live and have signed a lease, but have changed your mind since signing, there are some options as to how to break a lease. When deciding to break a lease, we recommend the following steps:
1. Read your lease to see what option is available. In your lease, it may have different names such as sublease and assignment, re-let, buy-out, or liquidated damages. This is the first place to start to see what might be available.
2. Be aware that there is almost always a charge associated with these processes.
3. We recommend an assignment or replacement process that releases the current tenant from further financial obligation once a new tenant signs a lease.
4. We do not recommend a sublease agreement where the current tenant is held liable for rent and other charges until the end of lease as a “just in case” factor.
As complications come up regarding leasing, we recommend talking to Student Legal Services to help review all of your options, and to evaluate if other factors exist that might assist in the lease break process. Student Legal Services: https://sls.colostate.edu
Lastly, keep in mind that it is always a good practice to go over your lease before you sign it, as breaking a lease can be a tedious task. Also, make sure to visit the “Helpful Resources” tab under “Housing” on our website for more resources about safe leasing practices and other tips.