What are my financial obligations to my landlord if I move out early?
I bought a house and broke a 1 year lease; I moved out after 6 months. What are my obligations? I sent a letter to the property manager giving 60 days notice and paid for those 2 months. The lease is up in 4 months. Am I financially responsible, and should I stop paying, until the property is re-rented? I feel they have no incentive to re-rent the property if I continue to pay the rent.
Whether you continue paying the rent or stop paying the rent, you are liable for the rent until the place is re-rented. If it is not re-rented, you would be liable for the rent for the remaining four months of your lease. The landlord cannot allow the place to remain vacant for the balance of the term of your lease. If the landlord does that, his/her damages (the amount of compensation landlord is seeking to recover from you) will be reduced accordingly because the landlord is required to mitigate (minimize) damages. In order to mitigate damages, the landlord must make reasonable efforts to re-rent the place. Reasonable efforts would be based on what other landlords in the vicinity are doing to attract tenants such as posting a sign on the property to advertise the vacancy, advertising in the newspaper, advertising in local rental guides, etc.