What is reletting charge?

Reletting charge is a fee that a landlord or property management company may charge when a tenant breaks their lease before the end of the term and the landlord must find a new tenant to take over the remaining lease. This fee covers the landlord's costs associated with advertising the rental property, screening new tenants, and preparing the unit for new occupancy, such as cleaning and repairs.

The reletting charge is typically a percentage of the total rent due for the remaining months on the lease, and it may also include the cost of any lost rent or expenses incurred by the landlord during the time the unit remains vacant. The exact amount of the reletting charge may vary depending on the terms of the lease agreement and the local rental market conditions.

It is important for tenants to review their lease agreement carefully before signing to understand any potential reletting charge or other fees that may be assessed if they break their lease early. Tenants may also want to consider negotiating with their landlord for a reduced reletting charge or other solutions if they need to terminate their lease early.