Rental Basics in Glendale>Question Details

Cigarron03, Home Buyer in Glendale, AZ

My rental lease is up in Dec. 2012 and I am buying a house and the close date is 7/17/12. Am I able to break my lease due to purchasing a new home?

Asked by Cigarron03, Glendale, AZ Tue Jun 19, 2012

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George James’ answer
Purchasing an new home would not be a condition that would enable you to break your lease. Your best bet is to talk to the property owner or property manager and discuss a solution of possibly buying out of the lease or finding a replacement tenant. You will probably have to forfeit your security deposit. I would suggest leaving the property in perfect condition to help mitigate damages and making it as "rent ready" as possible.

Good Luck and Congradulations!

Johnese "George" James
Cabrillas Realty Services
geojames@cox.net
602-390-9798
1 vote Thank Flag Link Tue Jun 19, 2012
It depends on what your lease states, if it contains a clause allowing you to break it you are in great shape. If not you may be obligated.

Review your lease documents and communicate with your property manager regarding the options.

Most leases would not contain a clause to break on purchase.
0 votes Thank Flag Link Tue Jun 19, 2012
This question gets asked VERY often. Someone out there has put this MYTH into many heads that First Time Home Buyers can get out of their Lease when buying a home. It is completely FALSE!

Though many wish it to be true, it just can't happen that way. There is no protection to the landlord in this way. I always suggest to my clients that as soon as you decide to start searching for a home to buy you need to inform your landlord and work out something for when you will leave the lease early. Some do a flat lease break fee and some prorate it. Some require 90 days notice in order to get a lease break agreement though too. So be cautious and negotiate to do what works best for all people so it's fair.

Good luck! This is something your Realtor should have discussed with you as well. And you've made a smart decision to buy a home! Congrats! :-)

Stormy Randolph, REALTOR®
PRO-formance Realty Concepts
SoldByStormy@gmail.com
(480)785-6110
0 votes Thank Flag Link Tue Jun 19, 2012
George got it right. The answer is NO. Read the lease and then talk to the landlord to work out an early departure.
0 votes Thank Flag Link Tue Jun 19, 2012
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