What if I’m currently locked into a lease?

Questions & AnswersCategory: BlockersWhat if I’m currently locked into a lease?
Sean Tierney Staff asked 1 year ago

I really want to go nomadic but I’ve recently signed a long-term lease. Is there any way I can still do this?

1 Answers
Sean Tierney Staff answered 1 year ago

You’ll need to look at your rental agreement but you may be hosed and need to stay the duration of your commitment. See what provisions exist for breaking the lease or finding another tenant and either doing a sublet or transferring the lease commitment. You should read the agreement prior to talking with your landlord so you know your negotiating position. Everything is negotiable so if there is no verbiage about early termination penalties, make an offer. 
Worst case your landlord will refuse you the ability to get out of the lease in which case it dictates the window of when you can embark on your remote adventure and gives you more time to prepare. Make the most of that time and use it to research all the options and programs available. Most reasonable landlords will entertain an offer that ensures they have a good, solvent, respectful tenant in their property so it’s worth pitching ideas around lease transfer and subletting. Depending the demand in the local market you might find if you’re in a locale with rent controls and prices have jumped recently, your landlord may be thrilled to be able to find a new tenant and charge a higher price… exhaust all the options before giving up due to having just signed a long-term lease.