• Penalty On Breaking Rental Lease

    Posted Sep 9th, 2010 By Richard Landuyt in Real Estate Answers With | Comments Off
    what is the penalty on breaking a lease/contract when renting.
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    The penalty is usually ‘spelled out’ in the lease / rental agreement you signed. In absence of that, you should seek out the law that pertains to your situation in your State. In Michigan, you would be responsible for the total amount outstanding for the entire term of your lease / rental period. Unless, it was sub let (re-rented). I suggest that you check out you alternatives (as I indicated above) then, have a conversation with your landlord.
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    Richard Landuyt
    Licensed since 1979, I give you my personal guarantee that your real estate transaction will be the most organized process you will ever experience.


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