How to Break Your Lease if You've Bought a House in Georgia
If you have an immediate interest in buying a home in Georgia, you may opt for a short-term rental until you find your dream home. However, you may already be locked into a long lease when you close on a new home. When this happens, you can take steps to break the lease, but you may not be able to do so without penalty. Breaking the lease generally allows you to avoid making rental payments when you are living in your new home.
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Instructions
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Read through your lease agreement to determine if the lease can be terminated if you buy a home. Generally when a lease can be broken, a penalty fee is assessed. This amount will also be listed in your lease. According to the Georgia Landlord Tenant Handbook distributed by the Georgia Department of Community Affairs, buying a home in Georgia does not automatically release you from the rental lease.
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Talk with your landlord as soon as you know that your home purchase is going forward. Use the opportunity to confirm the lease termination procedure listed in your rental agreement.
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Give notification to your landlord within the required time frame, which is listed in your lease agreement. Usually the period in Georgia is 30 days, but your lease agreement may specify a different period.
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Find someone to take over the rental, if it is required by your lease agreement. Some landlords will only allow a renter to break a lease if the renter secures a new tenant to take over the lease. You only need to do this if your landlord lists it as a requirement in your lease agreement. If you cannot find a renter, you may be responsible for the remaining months on the lease.
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Move out of the rental unit by the move-out date you gave your landlord. When you move out, you must pay any penalty fees that have been assessed due to breaking your lease.
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Tips & Warnings
If you have legal questions regarding breaking your lease in Georgia, consult a local real estate attorney for advice.
