Guide to checking out before the end of your lease
There are times when things do not always go to plan, some would have to get a short rent apartment and transfer homes because of work, financial or personal reasons, and sometimes we have to adjust according to these situations. In renting an apartment in South Korea, if your contract lease is not finished and you have to leave soon because of some reasons, you will have to go through a different process with the landlord to discuss a negotiation.
Ziptoss is a Korean real estate company that provides rental options for foreigners so that they can own their own homes in Korea. Ziptoss provides information and some tips to make it easier for foreigners to adapt. In this article, we’ll be discussing what you can do if you need to check out before your lease ends.
How to check out halfway
For whatever reason you have, there will be times that you cannot avoid these situations. Checking out halfway is not too difficult to do, you might find it a bit tedious but with communication and effort, you can make this negotiation work between you and your landlord.
A halfway checkout is where the lessee terminates the lease contract before his/her contract term(e.g. 1 or 2 years) expires. Here are steps you can use as a guide on what to do if you’re checking out in the middle of your lease contract.
Look for the next tenant
If you are planning to move out before the end of your lease contract, you will need to find another tenant who would replace you. If a new tenant moves in, the landlord can continue to collect their rent, and the landlord will agree to terminate your contract and refund your security deposit. If you cannot find another tenant, then you will have to pay the existing monthly payments(rent and utilities) while it is vacant.
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Contact a real estate company to help you
With a normal lease contract, the landlord must pay a processing fee for finding a tenant. In the case of checking out halfway, the tenant will need to cover this part of the fee instead of the landlord, so they can cancel the current lease contract you have.
Communication is important
The first step when checking out halfway is to talk to your landlord. Communication is important when you’re handling important things such as moving out. If the tenant wants to leave early, it is a breach of contract, so it is best to negotiate carefully with the landlord and show a good and positive attitude. Appropriate compensation can also help you terminate the contract.
Things to remember
Abide by your agreement
If both parties(tenant and landlord) have agreed to a negotiation, you must follow the requests of the landlord so he/she can approve and end your lease contract and maintain a good relationship even when leaving their rental space.
Give updates to your landlord
It is helpful to give the landlord updates on your process and give him/her information on what’s happening while you’re looking for another tenant.
Keep screenshots of messages for proof
It’s also good to keep messages about your current negotiation and agreement for proof that both parties agreed to one thing, just in case something goes wrong along the process of moving out halfway.