Most rental agreements in the Commonwealth of Virginia have a section regarding the renter breaking the lease agreement. While there is also likely a section or several sections regarding when the leasing agent can evict the renter, the section on breaking the lease should be of particular interest to those who might be in a position to have to break the lease some day. Renters should understand these contract terms so they can make an informed decision. Additionally the renter should consider all costs associated with breaking the lease. This includes both financial costs as well as emotional costs.
Understand the Contract Terms
Renters should review their rental agreement carefully before signing the lease. Your lease is a legally binding contract which should be given proper consideration before entering into the agreement. This is important because understanding these terms will be essential if the need to break the lease becomes a reality.
Rental agreements typically do allow the renter to break the lease but not without some form of penalty. This penalty usually comes in the form of requiring the renter to give a specified amount of notice before the contract is up and also requires the renter to pay a sum of money to break the rental agreement. A notice of 30 days and a lease break amount equal to one month’s rent are common penalties associated with breaking a lease, however, individual leasing agents may impose penalties which are either harsher or less severe.
Consider the Costs of Breaking the Lease
As previously mentioned there is typically a fee associated with breaking a lease. This fee is often set equal to one month’s rent. While paying this fee may seem excessive there are some instances in which it is an economically good decision to break the contract even though there is a financial penalty imposed.
Consider the example of a homeowner who is the process or relocating due to a job change. The homeowner may opt to rent an apartment in the new state while the house is put up for sale in the previous state. If the renter enters into a 12 month contract under the supposition that it will take this long to sell the old house and purchase a new house, he may be surprised if his other house sells quickly and he finds a home in his new state rather quickly. This may all occur within a matter of 2-3 months.
The renter has the option to stay in the apartment until the rental agreement nears expiration and then start looking for a home. However, this option runs the risk that the home he previously found will not likely be available. The renters other option is to place a bid on the new house and plan on breaking the lease if he is able to close on the new house. In this case, the renter would be saddled with both a rent and a mortgage for 9-10 months. This will likely be significantly more expensive than the price the renter would pay to break the lease.
Breaking the Lease is Not Always a Financial Decision
The decision to break a lease is not always completely a financial decision. There are sometimes emotional components which factor into the equation. For example a renter may have only 1-2 months remaining on his rental agreement when he is offered a dream job which will require him to relocate immediately. Although breaking the lease that late in the agreement is usually not financially wise, the renter may make this decision to avoid missing out on a dream job.
250 Reynolds St #508
1 beds, 1 full, 1 half baths, 1,086 sq.ft. living area
Spacious 1BR, 1.5 Baths, (1,086 sq. ft. )Walk-thru eat in kitchen, sunny with tremendous views from large balcony. Washer & dryer in unit. Great location, close to 495/395, Landmark Mall, parks, library, Van Dorn metro, restaurants. Enjoy the recently renovated outdoor pool, tennis courts and children's playroom. Owned is licensed realtor. Must be accompanied by a licensed realtor.
8360 Greensboro Dr #811
2 beds, 2 full baths, 1,136 sq.ft. living area
This 2 bedroom and 2 bathroom unit has it all. Renovated kitchen with new cabinet and granite counter, bathrooms with granite counters. Hardwood throughout the unit. Enclosed balcony, new closet doors, extra storage. Extra $100 if garage is needed.Amenities include free shuttle to metro, in & out swimming pool, exercise rm, tennis Ct. tot lot, walking trail, picnic area, convenient store and more.
6022 Shaffer Dr
4 beds, 3 full, 1 half baths, 2,240 sq.ft. living area
Fully Renovated fresh paint, granite, stainless, new carpet. Top floor has 4 bedrooms, 3 fully renovated baths. Master bed/bath. Laundry shoot. Huge Jetted tub, jetted shower, Italian porcelain tile. Fireplace. Huge unfinished basement for massive storage, shelving, workshop. Super location easy access to 495 or Walk Huntington metro. Clermont Elem. Pets cbc. Agt/Owner RENT TO OWN OPTION!!
1916 Storm Dr
3 beds, 1 full baths, 884 sq.ft. living area
**Immediate Availability**WOW! 3 Bedroom House in Tysons Corner*LOWER $$RENT$$ than a 1 Bedroom Apartment*Nice Kitchen*4-5 mins to Silver Line Metro or I-495 Express*250 feet to Metro Bus Stop*Large Kitchen*Wood Floors*Gas Range*Washer/Dryer*Driveway & Carport*Shed*Backs to Pimmit View Park*Walking Trail*Lemon Road Elementary*Pets Allow Case by Case*Short Term Lease Available!!
7704l Haynes Point Way #L
2 beds, 2 full baths, 1,252 sq.ft. living area
PENTHOUSE UNIT * VERY SPACIOUS UNIT - OVER 1250 SQUARE FEET WITH HIGH CEILINGS * 2 BEDROOMS * 2 BATHS * SUNROOM OFF LIVING ROOM * GAS FIREPLACE * WASHER/DRYER IN UNIT * APPLICATION FEE $50 PER ADULT * SORRY - NO PETS, NO SMOKING
3112 9th Rd N
3 beds, 3 full, 1 half baths, n/a living area
STUNNING, MODERN & COOL End-Unit Townhome in the HEART of CLARENDON. NEWLY RENOVATED! Lots of RAZZLE & DAZZLE: Sun-filled rooms w/Bamboo floors all 3 lvls*TOP OF THE LINE FINISHES thru-out*Quartz Counters in Kitchen w/SS appliances & 6burner stove* OPEN CONCEPT! 2 bedrooms + 2 bathrooms on Lower lvl*Master Suite + LOFT upper lvl*Custom Closets & Recess Lighting thru-out! ONLY 3 BLOCKS TO METRO!
6224 Mori St
4 beds, 3 full baths, 1,620 sq.ft. living area
Freshly painted and ready immediately! Large open floor plan with 3 large Bedrooms, 2 Bathrooms, Living and Dining Room on upper level and 1 Bedroom and 1 Bathroom plus living area on the lower level. Large fenced in backyard and screened in porch, great for entertaining!
1309 Ode St N #535
1 beds, 1 full baths, 628 sq.ft. living area
TOP FLOOR! LIGHT & BRIGHT! *628 Sqft of very cool FULLY FURNISHED condo in hottest of locations (Arlington!)*Under a mile to Rosslyn METRO*2nd floor unit w/plenty of light-*Extra Storage unit*Utilities included in rent (everything except cable/internet)*Washer/dryer in community rm in basement*Pets case by case*Short-term considered, Lease <7months may be subject to 20% premium. GOOD CLOSET SPACE
7096 Spring Garden Dr #104
2 beds, 1 full baths, 836 sq.ft. living area
Newly renovated unit in convenient Springfield location. New hvac, kitchen, bathroom, carpet and paint. 2nd bedroom/den on opposite side of unit from main bedroom. Gas-heat and water included. 2 Parking spaces (one assigned, one unassigned), additional storage. Shared laundry in basement. Section 8 not accepted. $50/adult application fee. 2 year lease preferred. Owner is licensed agent.
7025 Bentley Mill Pl
3 beds, 2 full, 2 half baths, 1,990 sq.ft. living area
GORGEOUS HOME IN KINGSTOWNE- HARDWOOD FLRS- SOARING CEILING IN LR W/GAS FP- FRENCH DOORS TO DECK- EXQUISITE MASTER SUITE/BATH W/SOAKER TUB-SEP SHOWER- LL FAMILY RM W/WALK-OUT TO FENCED IN GROUND LVL DECK- 1 PET CASE BY CASE WITH A $50 MONTHLY PET RENT-MAX 2 UNRELATED ADULTS- CARPET WILL BE REPLACED & WALLS WILL BE TOUCHED UP.