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Can early rental lease termination affect credit history?

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pdog661
Frequent Contributor

Re: Can early rental lease termination affect credit history?

Hi,

 

In short it can be very damaging to your credit. 

 

You signed a lease till Decemeber so therefore if you do not have an early termiation clause in your contract then your landlore could place a judgement against you.  This will prevent you from qualifying for a mortgage.  

 

Do not stop paying the rent until you have confirmed that you are off the hook, and done so in writing. 

 

 

Message 11 of 12
Amythyst
Contributor

Re: Can early rental lease termination affect credit history?

You will need to read your lease and/or talk to the landlord... we also have a lease till December of this year but we are scheduled to close on our new home August 30.  For us to get out of our lease, we must give 60 days notice and pay a 2 month rent penalty.  There is usually a clause in there that says what the terminiation fee/notification requirements are.

Message 12 of 12
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