Need to Cancel Your Lease Due to Relocation? Here’s What to Do
Life and business circumstances can change unexpectedly, and sometimes that means needing to relocate after signing a lease. If you find yourself in this situation, here’s how to navigate the lease cancellation process while minimizing financial and legal consequences.
Step 1: Contact Your Leasing Manager
Every lease agreement is different, depending on whether it’s a short-term or long-term lease. The first step is to reach out to your leasing manager—either in person, by phone, or via email—to discuss your options.
Step 2: Review Your Lease Terms
Your lease agreement will outline the cancellation policy, including:
✔ Early termination fees – Some leases allow cancellation with a penalty.
✔ Security deposit implications – You may forfeit your deposit if you break the lease.
✔ Prorated charges – If you’ve occupied the space for a few weeks, you may be responsible for paying a prorated amount for usage.
✔ Minimum lease terms – Many contracts, including virtual office agreements, require a minimum lease period (typically six months).
Step 3: Explore Alternative Solutions
If canceling outright isn’t an option, consider these alternatives:
✔ Corporate Relocation Assistance – If applicable, check if your company will cover relocation expenses, including lease cancellation fees.
✔ Lease Transfer or Sublease – Some agreements allow you to transfer your lease to another party, helping you avoid penalties.
Avoid Credit Risks
Failing to follow the proper cancellation process could lead to financial penalties or negative marks on your credit history. It’s essential to communicate with your leasing manager and take the necessary steps to avoid any long-term financial impact.
At ViewPointe Executive Suites, we understand that business needs change, and we’re here to help. If you need guidance on lease cancellation or relocation, contact us today to discuss your options.
📍 Visit www.viewpointecenter.com
