If you are here, you might be asking, “Can you break your lease if you buy a house?”
The answer to this question is complicated and depends on the terms of your lease agreement.
Typically, breaking a lease will leave you with a hefty penalty, hurt your credit score, and limit your future housing options, but there are exceptions.
If you’re looking to buy a home, the first step is to consult an experienced real estate agent about your specific situation. There may be ways to break your lease without getting penalized, or there may be other steps you can take to make the transition from leasing to owning a home.
Talk to The Real Estate Guy – Las Vegas today! We know the ins and outs of Nevada’s tenant laws and can give you our input on how to break your lease appropriately so that you can work toward getting your dream home.
You can also learn more about breaking your lease and avoiding penalties by reading the information we’ve put together below.
Note: If you are not in Nevada, then we would recommend utilizing resources specific to your area, as the laws around lease-breaking vary per state.
PS If you don’t have a lease and are actively looking for a home, then check out our article 10 Most Popular Neighborhoods To Buy A Home In The Las Vegas Area. We have listed some of the best communities in all of Nevada for your reference!
Further Explored: Can You Break Your Lease If You Buy A House?
Lease agreements in Nevada have certain restrictions, so it may not be clear to you what you can and can’t do once you’ve signed a contract.
With that said, there are clear-cut cases in which breaking your lease is allowed. They are as follows:
- Your safety is being threatened through harassment, domestic violence, or another type of crime.
- Your lease has an early termination clause.
- You are a senior citizen with a health issue.
- You are in the military and have active duty.
- Your landlord violates one of the lease’s terms.
- The property is unlivable due to a health, safety, or housing violation.
If you are not encountering any of these explicit issues and still need to break your lease in Nevada, it may be a good idea to speak with a lawyer who can help you better understand your situation and what options are available.
You may be able to sublet your rental, or the landlord may be open to re-renting the property for you—or, if your lease includes a home buying clause and you’ve already purchased a new home, then you might be able to end your lease early.
All of this leads us to our next point.
Speak To The Landlord
Lawyers are great, but speaking to your landlord is important. In fact, if you are comfortable with your landlord, you might go to them directly.
Although not all landlords are accommodating, many of them are, so you might be able to settle on an agreement that satisfies both parties.
Alternatives To Consider If Nothing Else Works
If you don’t meet any of the conditions for legally breaking a lease in Nevada and your landlord is being inflexible, then you might consider the following options.
- Pay off the lease agreement
- Request to switch to a monthly lease agreement
Both of these options are viable in many cases. One thing, however, that we would like to point out regarding monthly leases is that your landlord might increase your rental amount significantly.
If you are very serious about getting out of a long-term commitment, then paying more per month for a short time may be worth it.
Get Expert Advice On How To Break Your Lease To Buy A House
If you want to buy a house, but you don’t know how to break your lease, we can help.
Our professional team of real estate agents has in-depth knowledge regarding this topic and can help you make the transition from being a renter to an owner.
The Real Estate Guy has been helping people get excellent homes for years, and we are confident we can help you too. We’ll find great properties for you that are within your budget and in your preferred area.
Call us today at (702) 310-6683.