What if I wish to end my lease early but I find someone to replace me? Will you return my security deposit?

Yes! We offer tenants the option to find a new tenant to replace them upon request. Please email [email protected] for assistance. If you find someone new to take over your lease, we will return your security deposit [after deducting all damages beyond normal wear and tear] and you will be released of your obligations under the lease. However, this new person must be creditworthy, they must take over the lease on a period starting on the 1st of the month, and they must agree to all the terms outlined in your lease.
SUMMARY

The new tenant must:

  • Be creditworthy
  • Assume the lease beginning on the 1st of the month
  • Agree to all terms as outlined in your lease.

The below requirements must also be met:

  • You must be current on your rent.
  • Depending upon the amount of time left on your lease, you may want to re-lease your apartment for the remaining term or have the new tenant sign a fresh one-year agreement. If you plan to do the latter, please use the contact form on our website to get the new yearly rate and to get assigned to a property manager.
  • Have the new tenant apply through on-site.com. He or she will need to click “Apply Now,” and enter the building address and apartment number. The application fee is $ 100.00 per new applicant. Fax or email a most recent bank statement plus proof of income in the form of an employment letter, tax return or pay stubs.
  • Once your new tenant is approved, he or she will sign a new lease and you will be released of your obligations under the existing lease.
  • Your security deposit will be returned (minus any reasonable deductions for apartment damage).

 

Filed under: Lease Termination

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