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I want to break my apt lease..I'm not sure how this would affect my credit rating or should I worry?
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Do they normally have a termination fee? -
I'd suggest reading your lease. It should spell out what the penalty is for early termination. Whether or not it will affect your credit will depend on whether or not your landlord reports to the credit bureaus. Your lease might say that but you may have to ask.Steve
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As long as you have been paying your rent in a timely manner, there should be no reason for breaking a lease to impact your credit. In fact, if you discover that it does, you should challenge it, because breaking a lease is by no means the same as defaulting on a loan.
That said, however, there typically IS an early-termination fee in most leases, which depending on your state's laws, could amount to up to an entire month's rent, which essentially means you lose your security deposit. You would also still be responsible to pay for any damages to the apartment, cleaning fees, and so forth.Comment
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