Breaking your lease can feel complicated. If you need to break your lease due to a life change we understand there can be many questions about how to do it. The Q&A below is designed to help you get answers on the most frequently asked questions when breaking your lease. Keep in mind this is just a helpful summary as the Rental Agreement contract continues to be the final document to reference for any questions.
How do I notify my property manager I need to break my lease?
To give notice go to triopm.com and click the Tenant Resources tab. Under the heading Resources & Tools find the Notice to Vacate form which you can print and send in.
Alternatively, log in to your tenant portal via the Tenant Resources tab. Once in the portal, click on Contact Us and fill out the Notice to Vacate form in your portal. This is the quickest and easiest way to get this form to us right away.
Within one business day of turning in your Notice to Vacate our office will email you a move out packet that acknowledges you have turned in your Notice to Vacate. If it has been more than two business days since sending in your Notice to Vacate and you have not received the emailed move out packet, please contact our office.
What happens if I break my lease?
Review your Rental Agreement Terms and Conditions, Early Termination of Fixed Term Tenancy. You will be charged the option which has consistently proven to be the less expensive option for the tenant. You are responsible for rent, utilities, advertising, administrative costs, etc. to re-rent the property until a new tenant has been found or the lease ends, whichever comes first. Paying your rent each month and keeping the utilities in your name while it is vacant will help you owe less when it does re-rent. Once re-rented, a deposit accounting will be sent to you. Should the other option of the lease break fee be chosen, you will be notified.
Are you willing to make any exceptions on the lease break option?
We have found the option we use for lease breaking to be consistently less expensive to the tenant, so we continue to use it.
Why can't I go with the other option of paying a lease break fee when breaking my lease?
Upon signing your lease, you committed to renting the property for a specific period of time. The property owner budgets and makes plans based upon this promise to pay. As such, it is more equitable that not only the owner is made whole as much as possible, but also the person breaking the lease is given the best opportunity to pay less. In most cases the property re-rents quickly enough that this option is cheaper than the lease break fee. Again, this is based on how well you leave the property when you move out and if it is ready for immediate tenancy. This option seems the most fair all around.
How are utilities handled?
Keep utilities in your name until the home rents.
How much is marketing per month?
Marketing costs are dependent on the current rates charged by the outside vendors used, such as Zillow, and are charged to your account once the property has been re-rented. Leaving the property in rent ready condition will allow the property to be on the market sooner.
How long will the property be off the market once I move out?
This depends on what condition you leave the property in when you move out. If you leave it clean with minimal work to be done it can be on the market quickly. It also depends on vendor schedules. Please note that we work hard to turn properties quickly and make them ready for new tenants.
Can I find someone to rent the property?
We understand you want the property rented as quickly as possible. Unfortunately you do not have the authority to screen an applicant. That’s why we encourage you to turn in your keys and the signed Move Out form as soon as possible. Advertising before you’ve moved out makes things complicated. Keep in mind, the property has to be inspected after your move out for any potential damages, be cleaned, and be repaired (if necessary) prior to a new tenancy. Additionally, a new tenant has to view the property, apply through the Trio website and be screened. Therefore, it is best to tell any interested parties to check the Trio website daily for available properties and the ability to apply. Trio will not release information prior to it being advertised on our website.
If I break my lease are you going to market the property/unit at the same rent rate we already pay?
Market conditions will affect whether market rent rates go up or down. If your rent is below market value then the property will be marketed at the current market rent rate. You will be responsible for the difference in rent through the end of your lease if the property/unit is re-rented at a lower rate. We aim for fair market value with the shortest possible vacancy time.
When do I get my deposit back?
After the property has re-rented you will be notified and sent your deposit accounting to the physical address you provided within 31 days.
How will I know the property has re-rented? Should I call the office for updates?
We work diligently to get the property re-rented. You will be notified once the property has been rented to another party. As lease breaks are time consuming for our office staff, refrain from calling the office for updates as that takes time away from us renting the property on your behalf. We will contact and update you when it is appropriate.
Thank you, we appreciate your patience and understanding as we help you through this process!
