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Lease Assignments

When You Want to Permanently Leave Your Apartment

By Jennifer Lai, About.com

If you want to get out of your apartment lease, instead of breaking the lease, consider a lease assignment instead.

Assigning your lease means permanently transferring all the rights of the lease to a new tenant for the remaining duration of the lease (this differs from a sublet, where you temporarily rent out the apartment to another person, but are still the prime tenant listed on the lease). The landlord must approve the new tenant as the landlord will need to sign the lease assignment.

This is better than outright breaking the lease, and it saves your landlord the time of finding a new tenant. With this in mind, make sure you find a replacement whom the landlord is likely to approve.

Though the lease has been transferred in an assignment, both you, as well as the new tenant, are usually still liable for damages to the property.

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