Lease Assignment (Sublease)
We DO NOT have a “lease break” policy. We will, however, help you find someone to take over the remainder of your lease. It’s similar to a sub-lease, but the new tenant will go through the same process as you including submitting a new deposit & signing their own lease. It’s called a “lease assignment.” Let’s break it down step by step:
- Come to our office & fill out the one page lease assignment form. The total fee is $500, but only half ($250.00) is required at this time. The other half of the fee can be taken out of your security deposit.
- Take home a sign to put in your yard.
- We’ll advertise on our website & craigslist.com
- We’ll show the property. We will always give 24 hours notice.
- Once a prospective tenant is found, they will submit an application, the $50 application fee, and the earnest money (equal to half of the security deposit)
- We process the application and have them sign a new lease in their name only.
- When their liability begins is when your liability for the property, rent, and utilities ends. Your security deposit will be returned 60 days from the day that the new residents move in.
- Before the new tenant can move in, we need to do a property check-out with you. This means:
- The property must be cleaned and empty of your belongings.
- Your carpets must be professionally cleaned and you provide a receipt .
- Your keys, mail keys, garage keys/openers are all returned
- We have your forwarding address