This is an Assignment of Lease. An assignment of a lease is the transfer of a lease by a lessee to a third party, with all its rights and obligations. The lessee transfers the entire unexpired remainder of the lease term to a third party. The assignor remains liable under the original lease contract unless expressly released by the original lessor.
Assigning your lease can be a smart move if you need to relocate, but make sure you understand the responsibilities you’re passing on and ensure the new tenant is up to the task.
If the landlord refuses your request, you may need to discuss their reasons and explore other options, like subletting or terminating the lease altogether.
You can spread the word among friends, use social media, or check local rental sites to find someone who’s on the lookout for a new place.
Your security deposit usually stays with the original lease until the end of the lease term, but you should check with your landlord about how it will be handled during the assignment.
Generally, if you owe rent or are in breach of your lease, it can complicate the assignment process, and you may need to settle those issues first.
Yes, typically you need to get written permission from your landlord before you can assign your lease, as they want to ensure the new tenant is reliable.
An assignment of lease is when the original tenant transfers their lease agreement to another person, allowing the new tenant to take over the rights and responsibilities of the lease.