Can a landlord keep a deposit if a tenant breaks the lease on a commercial property?

landlord commercial property

Can a landlord keep a deposit if a tenant breaks the lease on a commercial property?

In most situations, you must give your landlord 30 days’ written notice if you are the tenant and plan to leave. If you don’t, the landlord may continue to collect rent from you after you leave. You will be responsible for paying the rent for those 30 days unless a new tenant pays it. You must offer 7 days’ notice if you pay rent weekly.

You must speak with your landlord if you wish to vacate the property but your lease hasn’t yet expired. You can find a subtenant by adhering to the landlord’s or the lease’s conditions if your lease or landlord permits you to sublet the apartment. Alternatively, the landlord can agree to let someone else take over your lease, return your security deposit to you, and collect a new security deposit from the new tenant.

If your landlord does not agree to let you terminate the lease early or to sublet the apartment and you do so nonetheless, you may be responsible for the remaining money owed to the landlord. The tenant is only accountable for rent for the month(s) the property was vacant. The landlord will have a “responsibility to mitigate,” which requires him or her to make reasonable attempts to re-let the unit. The landlord may deduct any unpaid rent for early termination of the lease from your security deposit.

There are better solutions available if you wish to vacate the property early and don’t have a valid reason to do so, as opposed to simply leaving and hoping your landlord finds a replacement renter swiftly. There are several things you can do to lower the amount of rent you have to pay and to increase the likelihood that your landlord will give you a positive reference when you’re searching for a new place to live.

Giving your landlord as much advance notice as you can and drafting a letter outlining your reasons for needing to vacate early can go a long way. Ideally, you may find a suitable substitute tenant to sign a new lease with your landlord.

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