HOW TO BREAK A LEASE IN CALGARY – WHAT YOU NEED TO KNOW
Before you break your lease in Calgary, you need to know the steps to take. In order to do this, you must have a valid reason and be willing to pay all of the costs associated with breaking your lease. Otherwise, you could make a costly mistake. Nonetheless, breaking a lease early is a very common occurrence that happens all across Calgary and beyond.
Here’s everything you need to know about breaking your lease in Calgary, Alberta.
What is a Lease?
Before getting into the specifics, it’s important to define what exactly a lease is. In layman’s terms, a lease is essentially an agreement between two parties that will bind both of them to certain terms for a specific period of time.
There are plenty of different agreements out there, but leases are one of the most common ones. When you sign a lease, you’re basically renting out space or property for a specified period of time. Leases don’t have a specific length of time; rather, the length of the lease is decided upon at the beginning and can be altered by both parties.
A lease will usually contain a specific rental price for the space being rented out, along with agreed-upon terms. Examples of such terms include who is responsible for paying for utilities, whether pets are allowed on the property, and so forth.
Things to Consider Before Breaking Your Lease
If you find yourself in a situation where breaking your lease is necessary, there are several things you should know before proceeding. This article will serve as a guide through the process and will help you make an informed decision.
Your landlord must be willing to break the lease
Firstly, your landlord must be willing to break the lease – if not, you won’t get very far. For both parties involved, it benefits them greatly if all of their options are laid out and analyzed beforehand so that no one will have any surprises come up down the road as they try to figure out what happens next.
For more detailed information on this, you can refer to the province’s resource for tenants and landlords.
You must have a valid reason for breaking the lease
Breaking a lease in Calgary can be tricky. You need to have a valid reason for doing it and you may have to pay some penalties. That said, there are times when breaking the lease is worth it, because of the consequences if you stay put. For example, being stuck with an apartment that’s too small or expensive; living next door to unruly neighbours; having roommates who don’t pull their weight. If your situation is one of these – or any other where staying on wouldn’t work out – then you should know how to break your lease and what will happen next.
You should be prepared to pay all of the costs associated with breaking your lease
Breaking your lease is a decision that requires careful consideration. You need to be sure you can afford the monthly payments, but also make sure you want to stay in your new place for the duration of your lease. If during this time, something changes and you find yourself needing or wanting to break your lease, you must know what steps are involved. There may be a hefty cost associated with breaking a lease – one which could end up costing more than living there would have been. So before signing anything, read on!
Steps to Break A Lease in Calgary
If you are a tenant in Calgary and have come to the decision that your lease is not working for you any longer, certain steps need to be taken before you can break it.
Determine your reason for breaking the lease
Breaking a lease is something that many people dread. It can be time-consuming and stressful, not to mention costly. But there are circumstances where it’s important to break your lease – like if you’re moving into retirement homes or other government-subsidized housing, or if the landlord has violated the terms of your agreement in some way.
Find a replacement tenant
The most important thing to consider when looking for a replacement tenant is their character. Ideally, you want someone who will be as responsible and respectful of your property as you are. This means screening potential tenants carefully, making sure they have a good rental history and references from people who know them well. You may also need to provide some financial incentives to get the right person on board with your lease agreement. More specifically, an attractive move-in package can help ease the burden of paying upfront costs like furniture, appliances or security deposits.
Give notice in writing to the landlord
You will be handing in your notice to the landlord soon and you are wondering how to go about it. The most important thing to remember is to always give them notice in writing! Not only does it make things easier on both parties, but it also protects you. There are different rules for what type of written notice must be given depending on how long your lease is for, so read carefully. It’s important to give notice in writing to the landlord. This is because it helps protect both parties from disputes and misunderstandings. Furthermore, it aids with mitigating any damages or losses that may have been suffered.
Create an inventory list of items in your space before moving out
The next step is preparing an inventory list with all items and their condition when they were handed over at the move-in time. This will help avoid disputes about what should or shouldn’t be returned at the end of your tenancy.
You’ll also want to know about all the items in your rental property because if there is damage when you leave, it will be deducted from your deposit or charged to your credit card. You should take photos of everything so that there won’t be any disputes later. Keep checklists so that you don’t forget small things like light bulbs and kitchen sponges.
Pay all rent up until the point of termination (and any other costs)
In Canada, the law protects landlords and tenants. A tenant who breaks a lease agreement is liable for all back rent, damages to the space and loss of income.
The good news for renters is that there are exceptions to this rule. For example, in some cases, a tenant can break a lease to move closer to work or school. They would require evidence supporting why it would be impossible for them to continue living at their current address. Most of the time, this is due to health concerns or financial struggles. The tenant must still pay all rent up until the point of termination plus any other associated costs incurred by breaking their lease. After the lease is broken, the previous tenant will have to find someone to take their place.
If you are an apartment renter and you want to break your lease, it can be a frustrating process. If not done properly, there may be fees associated with breaking the contract or repercussions from your landlord.
We hope that this article has helped you better understand how to break a lease in Calgary. Remember, if you are thinking about breaking your lease, it’s important to take all of the proper steps necessary. Doing so will make sure you’re not going to be making any unnecessary financial decisions.
If you are looking for moving assistance in Calgary, do not hesitate to contact the Sparta Movers!
Are you moving into a new home? You may be interested in our article about the things you should clean first in your new space.