Can I cancel a lease renewal if I just signed 2 weeks ago?
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Can I cancel a lease renewal if I just signed 2 weeks ago?
My current lease still has 2 weeks left. I can be out in just a couple of days. I heard somewhere there is a 30 day cancellation period. Is that true? Is there any other way out? They are referring to what the new lease says as far as terminating early which is 30 days notice, plus 2 months of rent as a penalty. That lease hasn’t started yet though. I feel like I would be better off just leaving in a couple days. From what I understand they can’t keep charging me once they have a new tenant and it shouldn’t take them more than 30 days to get my place ready and rented in this market.
Asked on February 1, 2017 under Real Estate Law, Arizona
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
1) No, there is no 30-day cancellation period in the law; you would only have this if the lease (or other contract) gave it to you.
2) Anything in the lease about early cancellation is enforceable against you--you agreed to it. So if you have to provide 30 days notice and then pay 2 extra months' rent, that's what you have to do.
3) An early termination penalty in the lease as "liquidated damages" (a set amount to pay for breaching the lease via early termination) is different from the landlord's right, in the absence of an early termination provision, to simply keep charging you rent until the first or earlier of the end of the lease term or the unit is rerented. The 2 month penalty you describe, as the price in the lease for early termination, will not be affected by re-renting; you will owe it no matter what.
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