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.
I can't go back to yesterday - because I was a different person then. -Lewis Carroll
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.
Rentals in Focus
Rent 2 BEDROOM 1 BATHROOM in the heart of Fabulous north Arlington in beautiful Arlington OAKS with the most beautiful setting Area.
Great FLOOR Plan for LIVING and ENTERTAINING. Walking distance to Shopping Center, Ballston Mall, Restaurants and more!!!!! [Arlington Oaks - $2,500]
Expanded single family rambler with a full basement.
Added space downstairs can flex for guest bedroom or excellent home office with quick access to the 2nd full bathroom. GREAT Yard and AMAZING location make this home a must rent! Three bedrooms upstairs with 1 full bath, though the primary also has its own half bath. Dogs considered with deposit. More photos to come this weekend. Professionally Managed. Min credit 630, annual income 35x the monthly rent by no more than 2 occupants, no bankruptcy, foreclosure, or eviction prior 7 years, and no outstanding collections. [Parklawn - $4,140]
End Unit Townhome with Walk-Out Basement, 2 car garage, Top Floor den / flex space with another full bathroom, and so much more! Yard is fenced in the back, next to tons of open green space! Hardwood flooring on the main level.
Bedrooms all have a great size, and the loft space upstairs makes a great play space, work from home space, or guest space for visitors. Home is professionally managed. Online application with Rent Spree, min credit 630, annual income 35x the monthly rent by no more than 2 combined occupants, no bankruptcy, foreclosure, or eviction prior 7 years and no outstanding collections. [Kingstowne - $4,170]
Welcome to 6251 Fogle Street, a lovely move-in ready detached home on over .
25 acre lot in Alexandria’s popular Shirley Park. Enjoy the spacious eat-in kitchen with granite countertops, stainless steel appliances, and soft-close cabinets/drawers! Step out to the fully fenced rear grounds with a large deck, patio, and storage shed. There are classy hardwood floors, lovely custom tile in the bathrooms, and a separate laundry room. The owner’s suite has a walk-in closet and 2 additional closets. This wonderful home is in a great location near Metro, all major commuter routes, two town centers, and Old Town Alexandria! Minimum income to qualify is $112,000 a year and 1 small pet under 40 pounds will be considered with $500 refundable deposit. [Shirley Park - $2,800]
Welcome to your new spacious townhouse in Fairfax, VA! This 2196 square foot home offers plenty of room to spread out with 4 bedrooms and 3.
5 bathrooms. The layout is perfect for roommates, friends, or anyone looking for a comfortable living space. With 3 bedrooms and 2 full baths upstairs, and 1 bedroom and 1 full bath downstairs, there is plenty of privacy for everyone.
The refreshed kitchen features white cabinets, luxury vinyl plank flooring and new stainless steel refrigerator, creating a modern and inviting space for cooking and entertaining. The large basement recreation room with a walkout to the fenced-in backyard is perfect for hosting gatherings or relaxing after a long day. Two assigned parking spots ensure you always have a place to park, and the convenience of having a washer and dryer in the lower level makes laundry day a breeze.
Located close to George Mason University campus and Robinson Secondary High School, this townhouse is in a prime location for students, faculty, or anyone looking to be near these educational institutions. With air conditioning, washer/dryer, and the option to have pets (up to 2 dogs, 50 lb or smaller, breeds restriction apply), this townhouse has everything you need for comfortable living in Fairfax. Don't miss out on this fantastic opportunity to make this townhouse your new home!
Please note it takes up to 15 days for the HOA to issue your parking permits. If your lease start in less than 15 days from the application acceptance date, you may have to park on nearby streets until you receive your parking permits. [Kings Park West - $3,000]
Welcome to 6911 Deer Run! This adorable house is a perfect place to call home.
The street itself is a cul-de-sac with scarce traffic. One car garage is a fully fenced backyard is a huge plus. Upstairs was expanded to make a fourth bedroom or place for extra storage. Pergo floors throughout the home and carpets in bedrooms. The home is currently getting some new appliances and repairs--Please excuse the state of the home while work is being done. Within 2 miles of Pentagon, Old town Alexandria, Arlington, within 1 mile of Huntington Metro. Close proximity to Kingstown, Shirlington, and all major commuter routes. [Deer Run Crossing - $4,000]
** MODERN CONVENIENCE PERFECTLY PAIRS WITH OLD WORLD STYLE ** Totally & expertly renovated, this like new home offers all the old world charm of the original Craftsman style home with all the conveniences of a modern, well built home ** Gleaming hardwood floors throughout ** Tall ceilings with crown moldings ** Multiple spaces for all your needs ** Spacious & bright cooks kitchen ** 3 Bedrooms and 2 bathrooms located on main level ** Large family room, 4th bedroom and 1/2 bath on lower level ** LOADS of storage space ** And lots of delightful features everywhere - pocket doors, tiffany style lighting - crown molding & more ** The full covered front porch beckons you out for your morning coffee and a neighborly chat and the huge rear deck offers plenty of space for lounging or BBQ gatherings ** Fully fenced, spacious backyard ** Pets welcome! ** Available May 24th.
This well cared for three level townhome has all the trimmings! Incredible location, convenient for commuters and an amazing public school pyramid. Gorgeous Chef's kitchen with Stainless steel appliances, cherry cabinets and eat in breakfast area. Half bath on main level. Fully finished walk out basement to fenced rear yard. basement fireplace is decorative only. Pets considered case by case. Back to private common space, open, woods. Apply with link to rentspree. Applications reviewed Monday 29Th. [Greentree Village - $3,000]
Charming Bungalow on a large, fully fenced in flat lot in the heart of Del Ray! The front porch and back patio are perfect for enjoying morning coffee and evening dinners.
This home offers a very functional two level living floorplan. The main level is complete with a den/office, 2 living spaces, open kitchen, dining and half bath. Upstairs offers a beautiful primary bedroom ensuite and 2 additional bedrooms that share a full bath.
Landscaping and water included in rent. Enjoy all the shops and restaurants Del Ray has to offer! [Caylor Spaulding - $4,550]
Step into this stunning unit filled with natural light and modern upgrades! From sleek light oak LVP flooring throughout to updated lighting, every detail exudes elegance.
Enjoy features, including the updated neutral bathroom, light filled door that beckons you to a delightful balcony retreat. The bedroom suite offers ample space with its large walk-in closet, and the convenience of in-unit laundry with a full-size washer and dryer adds to the comfort and efficient lifestyle.
Prepare culinary delights in style with stainless steel appliances, including an electric range with oven and a refrigerator with an icemaker. This building boasts both an elevator and staircase access, along with the luxury of reserved parking. Rent includes trash and water, making life a breeze.
Located less than a mile from the prestigious Inova Fairfax Hospital and medical park, this community also offers easy access to transportation with a bus stop at Gallows Rd just a stone's throw away. Enjoy the vibrant lifestyle with community walking trails, outdoor pool, the nearby Mosaic District, Dunn Loring Metro, and various commuting options within reach. Don't miss out on this perfect blend of convenience and luxury. [High Pointe At Jefferson - $1,900]
Will is the principal broker of Nesbitt Realty and Condo Alexandria. He is licensed in anywhere in the Commonwealth of Virginia, but focuses on those communities found in and around Alexandria, Arlington, Mount Vernon and Springfield/Franconia.
Will has been involved in real estate management, sales and investment for more than twenty years. He is a veteran of the U.S. Army. While in the army, he studied Russian at Monterey's Defense Language Institute. He is also a "veteran of the dotcom wars" and built most of the sites associated with NesbittRealty.com
Will currently resides in Belle Haven Estates just outside Old Town, overlooking New Alexandria. He is a former president of the Mount Vernon Youth Athletic Association and founded the Alexandria Fun with Friends Group. Will is the author of BattlestorM, a tabletop fantasy game, which was published by Ral Partha Publishing in the late '90's, and Arthur's Realm, a boardgame available at the Gamecrafter.
