Lease Breaks

Overview

We understand that a lease break is a difficult decision. Nobody wants to go through a lease break unless it is necessary. Everybody at GPS Renting is here to help you go through this process.

If you do plan to go through a lease break, here is what you should expect:

1. You are responsible for all the rent and utilities until a new resident is found and moves in or through the end of your lease, whichever comes first.

2. We can list the house on the market the day you turn the property over to us or when you are still residing in the property. If you choose the second option you can help to coordinate tours and help find a new resident. You are responsible for the tours during this time until you choose to vacate the property. If you would like to proceed we would need an email that we can have potential applicants contact you. Because the email will be on the ads, we recommend you create a separate email for this purpose. Please note that if after a market analysis, it is found that the fair market value is greater than the current rent, the home will be listed at that higher price.

3. Per the lease agreement, the security deposit & pet deposit becomes non-refundable. Based on the property condition and transition situation, however, we always ask the owner to see whether they will agree to deduct the transitional costs and return some of the deposit. Because each owner is different, we can't guarantee anything. But we will try our best. Please be aware that, even if the landlord decides to refund the deposit, additional fees will still apply, including a leasing fee equivalent to 50% of one month's rent.

4. Once you confirm a move-out date. We will put on the ad that the property will be available 2 weeks later to make sure it is move-in ready and repairs can be addressed. You would be responsible for the rent during this transition period. For example, the move-out date is 01/02/21 and the move-in date would be 01/16/21.

The most important thing in this process is communication. Please let us know what your plan is and we can always discuss ways to make it work!

How to Start the Process

Please follow the steps to start the process on your portal: https://gpsrenting.appfolio.com/connect/contact_us. Please let us know the reason for the lease break so that we can share that with the owner too.

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