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Updated over 5 years ago on . Most recent reply
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Can you break a lease if you bought a house?
Hi guys, I need some feedback. I live in the Houston area and I am in the process of acquiring my first multi family property, which I will be house hacking. I am currently renting and my lease will expire before I buy this property. I heard u can break a lease as long as you you can prove you bought a house? What do you suggest I do? Go month to month (although it will be more expensive) until I buy the house or should I renew for one year and be able to break the lease when I purchase the property? Thank you very much in advance
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Legally? No. What business is it of the landlord that you bought a house? Why is the landlord obligated to let you walk because you decided you wanted to be an owner instead of a renter?
The only "legal" lease breaking that I know of that is sanctioned by the government is that of military members, who are ordered to new bases and assignments and are usually allowed to break a lease for that reason.
Now will your landlord work something out for you? Maybe. For good tenants or the right time of year, I don't really care when they're leaving. Most of my good tenants go on month to month anyway at the end of the lease. If someone wants to leave in May versus November, especially if rent rates have reset, I'll usually let them walk without issue.
Edit: What you are trying to do is have it both ways. You want to go month to month for your convenience if/when you buy a house but you want the landlord to subsidize that by giving you an annual rate. You should either commit to the year for the cheaper price or take your chances on month to month. You're trying to become a landlord - how would you feel if your future tenant did the same to you? Kept your cheap rate in their back pocket so they could bail in the middle and leave you trying to find a tenant in January?
- JD Martin
- Podcast Guest on Show #243
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