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If I Get a Notarized Letter From a Currency Exchange, Will It Release Me From My Lease?

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When renting or leasing property, you'll need the funds to keep your end of the deal. In the United States, being unable to pay because of unfavorable exchange rates from funds brought in from abroad let you out of a deal -- unless the lease specifically allows for this. Foreigners renting or leasing in the United States should familiarize themselves with state and local landlord-tenant laws as well as lease terms before entering a lease contract.

  1. Payments

    • Landlords and most states' laws aren't concerned with how a tenant gets her money, except perhaps when it comes to illicit means. Provided a landlord is aware of no crimes, his main concern is that rent is paid in full and on time. If you're struggling to make rent because of a shift in foreign exchange values, the landlord and the law's perspective will likely conclude that you should find additional revenues or perhaps terminate your lease and move to a more affordable location.

    Special Clauses

    • If you who know that foreign exchange rates may seriously impact your finances may, consider negotiating special lease clauses related to currency exchange values. These might set rent in a foreign currency or perhaps allow you extra time to pay rent when an exchange rate drops below a pre-agreed amount. Such clauses are extremely rare -- but can be legal and binding if you and your landlord agree to them. Consult an attorney versed in landlord-tenant law when developing specialized clauses.

    Terminating Leases

    • You always have the right to terminate a lease if you are wiling to accept the associated costs. Leases vary on termination procedures and costs, but usually require forfeiture of security deposit and last month's rent. In some cases, leases require penalties for early termination and in others you may be responsible for the remaining rent through the duration of the lease term unless the landlord can re-rent the unit or property. If you need to get out of a lease, you may be able to ease the situation by finding a prospective new tenant.

    Landlord Role

    • If a landlord fails to perform on his part of a lease contract, you may be able to terminate a lease without penalty. Landlords who do not maintain safe premises or who do not make needed repairs in a timely manner are often in violation of both leases and landlord-tenant laws. However, short of a landlord's failure to perform on a contract, you must pay the rent. That doesn't mean that in difficult times or situations landlords won't accommodate good tenants. If you find yourself in difficult financial circumstances, approach your landlord to work out arrangements for late payment or revised payment schedules. Although your landlord has no obligation to make exceptions, he may benefit by keeping a tenant rather than facing turnover.

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