Buy A Home When You Wish With Early Lease Termination Options
For many people in America, home ownership is a desirable goal to be pursued when the timing and the finances line up correctly. The ideal time to make a change from renting to owning your home is when your lease is ready to expire, but property management companies are often helpful if you should need to end your lease early because you've bought a house.
Finding A Home During Your Lease
360 Realty Management is affiliated with real estate agents in the Houston area who will gladly help you find a home. If the owner of the house you are currently renting decides to sell, we can even help you purchase it yourself rather than move.
Navigating Early Termination
To minimize the costs associated with moving out, especially if you're breaking a lease, it's important to know the early termination provisions of your rental agreement. Here is what you need to do:
- Let us know you are leaving. When you leave a property managed by 360 Property Management, you must submit a form from the Texas Association of Realtors called the Notice of Tenants Intent to Vacate, which indicates when your lease ends, when you will vacate the property, and whether you wish to terminate early.
- Help us find a new tenant. If you are leaving early because you've purchased a home, the management company is happy to release you from your lease as long as you assist them in re-renting the property. You can either do this yourself or put it in the hands of 360 by paying a re-letting charge. If you find a new tenant yourself, the person must be approved by the management company.
- Know your obligations until a new tenant is in place. Until a new tenant leases the property and starts paying rent or if you are unable to find a new tenant, you are liable for your lease until it ends. You must also pay other obligations such as utilities and yard maintenance until the new renter assumes these bills. As with any other time you leave a property, you are responsible for cleaning the property as well as having the carpets professionally cleaned.
- Make marketing the property easy. No matter when you plan to vacate your rental home, you are required to allow the management company to show the property to other potential tenants. The landlord or the property management company may place a lockbox on the door so the real estate agents can show your property, which you should always keep ready for a showing.
- Follow all the rules for vacating the property. In order to get your security deposit back, you need to clean the property. According to the specifications in the lease, turn in all keys and vacate the property as agreed.
360 Realty Management Wants To Help Your Transition
Whether you are moving to another Houston property or you want to buy your current one, communicating with 360 Realty Management will make your transition smooth. For information, contact us via our website or call us today at (281) 859-5959.