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Can someone on this forum tell me the consequences of breaking an apartment lease in Raleigh? Will it damage my credit score, my ability to rent elsewhere, etc etc? Thanks a bunch
of course it will damage your credit unless you can reach an agreement to terminate the lease with the owner.
Also, if you damaged the home, you will be in for it too. I am a fair decent landlord of the home I rent out, but by God, if you destroy it, me and my attorney would haunt you for your entire life. I would report it to your credit, get a judgment, then garnish your wages.
No offense, but it is such a risk with so much costs associated with owning a home for rent, you have no choice but to be this way. Perhaps you could offer the owner a few months rent and move now. Negotiate, but be fair, otherwise your credit will scared badly. And credit bruised from a rental, makes it almost impossible to get a rental anywhere else.
Most apts in the area will work with you if something legitimately comes up like a work transfer. They may just ask you to pay the lease until a new tenant is found for the apt. If you can find said tenant, even better. Go and talk to them and work something out and preserve your credit and future rental references.
My son had a landlord in PA that had a provision for terminating a lease with a one month rent penalty. He asked to do this but they weaseled out with a clause allowing them to reject the offer.
They put a collection account on his credit profile and assigned it to a collection agency.
I, having been in the collection industry years ago, told the agency not to contact my son as required by the Fair Debt Collection Practices Act. They could still try to sue, but I told them I'd hire an attorney to fight since the landlord wasn't attempting to get the unit rented promptly.
So far, no damage except the credit bureau. This would only hurt if he wanted a mortgage, and he has no such plans.
I did offer them again the one month penalty. He left giving them a paid month to find a new renter and it wasn't a first lease requiring landlord to do an extra painting.
My advice is to try to negotiate a mutually agreeable settlement.
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