How You Can Transfer Your Rental Lease?

How You Can Transfer Your Rental Lease?

Breaking your rental lease could potentially be quite costly and it can also tarnish the entire rental history that you may have long maintained without a single blemish. However, if the situation you are facing demands you to shift to a new rental apartment in Dallas before your lease agreement ends, it is very much possible without breaking the lease. In fact, you can choose to transfer the lease legally and assign it to some new tenant. Another option you have is to sublet the apartment to someone else till the time your lease ends. It is, however, important for you to get the written permission of your landlord to sublet or assign your apartment. It should, particularly, be done if the current lease you are in prohibits this type of lease transfers.

Your lease can be assigned legally to some third party if the landlord allows you to do so. In such scenario, your landlord or you will have to sign the lease assignment with new renter. This is a document which transfers your obligation partly or fully under actual lease agreement. Based on the way it is drafted, lease assignment can possibly eliminate the financial responsibilities that you may have. Otherwise, if new tenant doesn’t pay rent in time, damages the apartment or violates any terms of lease during actual lease term, you might be held responsible for everything.

When making an arrangement for lease assignment, all the parties should agree to it. The basic document for the lease assignment of your Dallas apartments for rent contains your name, name of the landlord and name of renter who is taking over the lease. It should also include address of rental apartment, terms of the lease, and date of expiration for actual lease. There should also be a statement that says you won’t be responsible for any damages and future rent as soon as you vacate the rental. It is also possible that many landlords might not agree on such clauses while transferring the lease. So make sure that assignment document is signed by all the parties involved.

It is also advisable to consult some professional for getting your lease transferred. Consulting experts like real estate lawyers who are well-acquainted with state and local laws which govern landlord-tenant relationships will allow you to know about specifics related to lease transfers. When you understand the rights that you have as tenant who is transferring the lease, it allows you to save considerable amount of stress and time in long run if any of the other parties fail to comply with assignment. There can be different variations of laws related to transfers as landlords may have rights for prohibiting transfers completely or letting tenants to do such transfers in specific circumstances and with a few conditions.

So, consider everything in detail before you opt to assign your lease in order to play safe and avoid any kind of problems at the end of the day.