Are you dissatisfied with your current lease? Or have you broken a lease in the past and concerned it could affect your future credit rental history? Then take a look at some of the tips we’ve gathered on Broken Lease/Eviction questions.
1. What if I have a broken lease?
As ridiculous as it may be, you can make $100,000 a year, but you won’t be qualified for a $500 a month apartment with a broken lease or criminal background on your record but it is not completely hopeless. Most of apartments will not work with you if you owe another rental property money or break a rental lease. However, there are only a hand full of apartment communities that will work with this type of situation. Those apartments that can work with it, will ask for an (refundable) extra deposit equal to one month rent or they ask you to have direct deposit set up with your employer on top of the extra deposit. In addition, some of those apartments also require for you to have re-established your rental history since the broken lease/evictions.
Nevertheless, I would still recommend my clients to pay off the debt if they can since their options are very limited. There might be apartment communities that have become more lenient, but only one is new and considered as a luxury apartment communities. Basically, if you want anything up-to-date, any rental debts need to be paid in full or taken off your credit report prior to getting approved. It doesn’t matter how old your broken lease is, even if it was 10 years ago, having a property debt can easily get you denied if you don’t know who will or will not take a broken lease.
2. What if I have more than one broken lease?
Dependent on the gap between those broken leases, a co-signer or an extra deposit, which could be equal to one month rent; sometimes 2 months, is required. But you cannot be picky about what apartment you can get and what area the apartment is located in. The options are very limited.
3. What if I have a broken lease from a different state than the one I currently reside in?
It doesn’t matter where you live and where you have a broken lease at. A property debt is a property debt. Once a broken lease is reported to the credit bureau, it will show up no matter what unless it has been paid off or dismissed. Your options will remain the same.
4. What if I do not have a broken lease, but I owe a property/ landlord money?
Apartment communities in Austin/ Round Rock/ Pflugerville and Cedar Park treat owing a cleaning or move-out fee the same as a broken lease. Again, most apartments will not work with you except for those few apartments. But usually, the amounts owed are less and you can make arrangements to get them paid off.
5. What if I do not have a broken lease, but I did not give a 30 or 60 day move-out notice?
Again, apartment communities in Austin/ Round Rock/ Pflugerville and Cedar Park treat this situation the same as a broken lease. Just because you have lived at an apartment for years, paid your rent on time and have been an ideal tenant, do not think you don’t need to give them a 30-day move-out notice.
You could still end up with a property debt even if you have fulfilled your lease term. Apartment communities are very strict about this. Again, you can get denied at the next community you are applying at. You must give proper notice – written notice- and make sure you submit the notice in person and not just drop it off in the night box.
6. What if I co-signed for a friend and they failed to pay rent?
As a co-signer, you are responsible from the apartment community’s standpoint. Again, this will also be considered as a broken lease even if you didn’t live there. The only ways to get that removed off your record is either dispute it with the credit bureau or pay off the debt (and go after your friend yourself if you choose to).
7. What if I want to legally break a lease.? How do I do it?
The best thing to do is to refer to your lease contract and to talk to the apartment community. The process can/will be very costly. Or consult Austin Tenants Council, should the reason be due to Tenant/Landlord issues.
8. What if I have made payment arrangements? Can I still be denied?
Yes. Many apartment communities want you to pay the amount owed in full. Dependent on the remaining balance and the frequency of your payments, some apartments will be able to work with a payment plan.
9. What if I have a property debt, but I refuse to pay it off?
Whatever your reason for not wanting to pay off the property debt may be, know that your options are very limited. Once your account is turned to a collection agency, your debt will significantly be more than the amount you originally owe due to their fees, interest etc.