We do not allow assignment or sub letting, can not sell contract
Here are the options to choose from
If both are leaving the rental you'll both be responsible to the lease and the terms of the lease. Rent each month and late fee's, attorney fee's etc.
Or
Three times the rent for a buy out, buyout not considered as rent
Or
There is a possibility, if on a month to momth tenancy, we'll feel it is necessary to ask you to move. In this case, it's just best for all of us to move on and the owner / management will have a reversionary right of the property. This can be done based on the lease you signed that has turned into a periodic tenancy. There maybe kicking and biting and plea to stay, but it will be necessary based on 38 plus years of past management experience and no reason to explain the why
Or
If one person remains in the unit a novation to the lease will need to take place, depending on the situtation at hand. If the person remaining can not pay rent, there will be no novation to the lease, the leaving party will still be obligated as well as the person remaining. If the remaining person can not pay, we'll legally go after both parties to pay for rent and other charges.
Please remember, we do not allow assignment or subletting, so you can not sell your lease or try finding people who don't qualify to rent. You can reference prospects to us but they may not qualify. If we decide to release you from the lease after we find someone, at that point a novation will need to be created. Your security deposit will be also be at risk as well.
If you just leave you'll still be responsible for your lease, we will use every effort to find someone but it won't releave you from your lease obligations. The owners have strictly informed us that lease obligations must be followed regardless of any situtation.
Buy Out's
The same thing would happen if both of you had to move, or
if you rent the place as a single person for any reason,
a buy out can be done.
Three times the rent for a buy out, buyout
not considered as rental payment.
Security deposit can not be used towards buyout.