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 will remain responsible for rent, utilities as applicable under your lease, and any associated costs until a new qualified tenant has been secured and has taken occupancy, or through the end of your lease, whichever comes first.
2. The property will be relisted on the market at the current rent or fair market value, whichever is higher.
3. We can begin marketing the property either once it is turned over to us or while you are still residing in the home. If you choose to remain in the property during this time, you may assist in coordinating tours. If you would like to proceed with this option, please provide an email address that can be shared with prospective applicants. We recommend using a separate email for this purpose.
4. Per the lease agreement, the security deposit will be handled in accordance with the lease terms and applicable regulations. The security deposit accounting and any refund due will be completed within 30 days, regardless of whether the property has been re-rented. The deposit may be applied toward outstanding balances, damages, or other allowable charges that can be accounted for at that time. Any rent, utilities, or other lawful charges that become due afterward may be billed separately.
5. Once a move-out date is confirmed, the listing may reflect an availability date approximately 18 days after move-out to allow time for preparation and any necessary repairs. The actual availability date may vary depending on the condition of the property and the work reasonably needed to prepare it for a new tenant. You will remain responsible for rent in accordance with your lease until a new qualified tenant has taken occupancy or through the end of your lease, whichever comes first.

The Notice of Intent to Break Lease form will be sent through the AppFolio Resident Portal for your review and signature to formally proceed. Please submit it as soon as possible once you receive it.

Clear communication is key throughout this process. Please feel free to share your plans or any questions you may have, and we will do our best to assist.

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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