Vacating a rental before the end of your agreement is known as breaking the lease.
Tenants must be careful when choosing this option as there will likely be costs to cover the property owners’ losses including rent, advertising and re-letting fees.
The bond may be used to recover some of these costs if you do not pay.
This is not recommended as a solution, because if the cost is higher than the bond amount and some of the remaining bill is left unpaid, you could be blacklisted, which would make finding a new rental more challenging.
Does breaking a lease always cost you?
The great news is that if you break a lease, you are not always on the hook for a big bill.
If you are able to give a suitable amount of warning to your landlord that you intend to leave the property and allow them to show prospective tenants through the house while you are still there, the transition can be relatively quick.
This means you do not have to continue to pay rent until they find a suitable replacement.
You will still be required to pay the costs of advertising, but the end cost could end up being considerably less.
If you break a lease with a valid reason, you may also not be required to pay costs.
Valid excuses can range from a property being damaged or unsafe, hardship circumstances, and family violence.
The rules regarding breaking your lease will differ between jurisdictions and based on the circumstances, so seek advice and be open and transparent with your landlord as soon as possible.
Read more: Advice on breaking a lease early in your state