What happens if you end a lease early?

I'm not sure if I afford rent next spring semester, so I'm thinking of moving back home with my folks. My lease is up in August, but I really want/kinda need to live close to the school for the fall semester.

I'm kinda scared to talk to the rental office about my options right now (I can't really tell you why, I'm just stressed I guess and the lady seems stressed too whenever I ask her questions), so I figured I'd ask you guys.

1- Do a lot of apartments have shorter leases? Maybe month by month or something?

2- What if I just sign a year contract and terminate in January? What penalties are typical? Will this go on my "record" or my cosigner's record?

3- Anything else I should know?

Any help is appreciated:)

If you already have a valid lease on the apt. ask for a lease extension to extend the term of the lease to January. They may or may not go for it - it's up to the landlord.

Short-term leases are like Homestead Suites, etc, designed for people on extended business. Very expensive (the one nearest me is $700/week). Very few landlords do short-term leases, except for vacation rentals. Premium prices because of all the work and advertising costs involved.

If you sign a one-year lease, you are responsible for a full year's rent. You will pay 12 months rent for 4 months. If you do not pay, the landlord will take you to court. This becomes a public record which ithen becomes a part of your credit report. Court judgments, like foreclosures and bankruptcies will remain on your credit report for 10 years, but public records last forever and your great-great-grandchildren will still be able to get it!

Getting a lease extension is your best and cheapest option since you will only have to move once at term-end, even if you have to offer the landlord a 10% rent increase to get it.

ibu guru is not entirely correct.

If you move out early, yes, your landlord can take you to court. However, he still must make an effort to rent the place, and when he does he can only sue you for his damages... which would be for the amount of time the apartment was VACANT, when he WASN'T receiving income on it. (Plus court costs, etc.)

So if you were to sign a one-year lease, and then move out immediately, and he is able to rent it out to someone else right away, after you move out, you WON'T have to pay for "12 months of rent."

When a lease is up, there is no problem just moving out. This is your right. But to sign a lease with no intention of honoring it, will affect your credit and of course the co-signer, too. A lease is a contract. If you are over 18 you are responsible for your signature. Now as for a month to month, you will have to ask the property manager. Maybe if you put your questions in writing instead of asking her in person, it would be better, because then she can address your concerns at her convenience.

Some apartments take month to month or short term leases. You will pay more a month for this privilege.

I broke a lease 3 months early once, I paid a few hundred dollars (I don;t know if thats typical). and as far as I know, it doesn't go on any sort of 'record'.