Frequently Asked Questions
About ReLease
What is ReLease?
ReLease is a financial product for renters. We give renters like you the flexibility to break your long-term lease agreement early and move out at any time, for any reason—helping you save thousands of dollars in the process.
ReLease will work with your landlord or property manager to terminate your lease when you want to move and we’ll cover your early termination penalties for you. Depending on your lease agreement, ReLease may pay your early termination fees, lease buyout, and guarantee rent on your unit for up to six months.
Why do I need a flexible lease?
Have you ever wanted to move in (or out) with someone, but you were stuck in your lease for another 6 months? Fed up with unresponsive management or maintenance issues at your building? Want to move to a new city, but you’re mid-lease? New job? Thinking about buying a home?
Whatever your situation may be, ReLease can help you with a clean break of your lease. Anytime, for any reason, without the termination fees.
Who does ReLease cover?
Students, digital nomads, early career, city explorers, employees on assignment, roommates, the spontaneous, the unsure, the about-to-buy-a-home, the risk averse, and the financially responsible to name a few.
How It Works
Can I really move out at any time?
Yes! Life happens. When you’re covered by ReLease you can move out whenever you want or need to, including the day after your lease begins—all with just three days minimum notice.
You can also purchase our Cancel Anytime coverage which gives you the ability to cancel a lease that you signed but haven’t moved into yet (you must be at least two months away from move-in to purchase). Most lease agreements will hold you responsible for termination fees if you signed but change your mind before you move in.
Do I need to let my landlord know I bought coverage?
No, there's no landlord permission required!
If you decide to move out early and make a claim we’ll work with your landlord or property manager to terminate your lease contract. Just be sure to provide us with your property manager’s contact information on your account dashboard.
Cost and Savings
How much does ReLease cost?
Most renters can get coverage for as little as $20-$30 per month. You can pay upfront, monthly, or a combination of both - whatever works for you. With a deductible you can pay less upfront or monthly, but you’ll need to pay the deductible before ReLease starts covering costs for you. If you decide to make a claim and move out early, you’re responsible to pay your entire premium amount.
How does ReLease save me money on an early move out?
Moving is expensive enough. First month’s rent, security deposit, and many other moving costs and fees. Want to move out from your current lease early?
You’re facing termination fees upwards of 2-4 month’s rent. That means if you’re paying $1,500 for a one-bedroom apartment, it could cost you $3,000-$6,000 to leave early. With ReLease, you can move out whenever you want for only a few hundred bucks, saving you thousands. Plus, you only need to give us 3 days notice, so you can get out 10-20x quicker.
Can I stop making payments if I make a claim?
No, when you purchase a ReLease plan you are responsible for your entire premium amount. If you make a claim you are also responsible for any deductible amount before ReLease begins covering your costs.
For example, Matt purchased a plan and his cost of coverage is $300 with a $500 deductible. Matt opts to pay $25 per month for his 12-month lease term and decides to move out early during the fifth month of his term. When Matt moves, he is responsible for the rest of his premium, or $175, plus his deductible, $500, before ReLease starts covering his early termination penalties.
What’s a deductible?
Your deductible helps lower your cost of coverage. In the event that you make a claim and move out early, this is the amount that you are responsible to pay before ReLease starts covering your early termination costs. Your deductible amount has been negotiated with your community. If you were not referred by a community you will not owe a deductible at this time.
Eligibility and Coverage
Do I need to apply for coverage?
No, if you’re a renter in the US, you can purchase ReLease coverage.
Simply start a quote and tell us the details of the unit you’re thinking about renewing or moving into. Provide an address, unit price, and layout, and we’ll have an estimate for you in under 60 seconds. All quotes are based on an estimated 12-month lease term. Your estimate may change when purchasing coverage if your actual lease term is longer or shorter than 12 months.
Can I get coverage if I’m in the middle of my lease?
No, we don’t currently support renters in the middle of their lease term.
You must purchase a plan within seven days of your lease start date to be covered by ReLease. If you signed a lease with a future start date you can purchase coverage here.