FAQ

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General FAQs

What is ReleaseMyLease.com?

ReleaseMyLease.com was founded in 2010 as an online community for individuals who are looking to get out of their current cellular, membership, services, and commercial or residential property contracts and those that want to take ownership of the contracts. The website is designed to assist in the discovery aspect of the lease assumption process within these markets where contracts are often broken before the lease term is up.

Who can use ReleaseMyLease.com?

ReleaseMyLease.com’s services can be used by any individual or organization who needs to transfer out of their current lease or service agreement. Additionally, any individual or organization wanting to take ownership of available contracts can use our services.

Does ReleaseMyLease.com assist in the actual transfer of the contract?

No, ReleaseMyLease.com does not assist in the transfer process. The transfer should only be inititated with prior approval by your property manager or service provider to perform a transfer of your contract. Your property manager or service provider will direct you with the steps needed to complete the transfer.

Do I need to register to use your services?

Yes, you must create a FREE membership profile in order to communicate with other members.

What are the fees involved for using this service?

Membership is FREE which includes access to create listings.

There is a fee of $10.95 per listing to unlock messages in order to communicate with interested parties.

For greater visibility of your listing, you can pay $7.95 to upgrade it as a Featured item. Your listing will be randomly rotated on the home page for viewing and will also show at the top of search results relating to the type and criteria.

Do I have to provide any personal information?

To become a ReleaseMyLease.com member, minimal personal information is collected. This information is privately and securely stored within your 'My Account' section of the website. When communicating with other members regarding the assumption or transfer of a contract, it is best to only provide your personal information to the service provider or property manager. ReleaseMyLease.com does not store your credit card information.

Can I be both a lease seller and a buyer at the same time?

Yes. You can post a contract that you want to get out of as well as search for contracts that you are interested in obtaining.

How is my information protected?

All personal information is kept private within the 'My Account' section and is not provided within any posting or communication between members of the site. It is strongly advised to only provide your personal information to the service provider or property manager. In addition, your credit card information is never stored.

Is ReleaseMyLease.com restricted to certain service providers or property managers?

No. Any service provider or property manager that allows lease transfers or sublets can be listed on ReleaseMyLease.com

How is the lease/contract transfer initiated?

The transfer process is initiated once the owner of the listing unlocks communication and an agreement with the qualified party has been reached.

How is communication handled between members?

All communication between members should be performed through the messaging service on ReleaseMyLease.com.

Can terms of the posting be negotiated between members?

Members have the flexibility to negotiate their terms. You should ensure that the property manager or service provider is in agreement with these terms. ReleaseMyLease.com or any of its counterparts has no responsibility in the negotiation or execution of these terms.

What is the contract transfer process? How long does it take?

All situations differ based on the policies and terms of the provider. However, the general process for lease transfers/subletting is as follows:

Once the listing member has found an interested party to take over their lease, they will need contact their property or service provider to initiate the transfer process. Then, the interested party should contact the provider to provide them with any information needed to proceed with the transfer/sublet. If the provider approves the interested person, the lease transfer/sublet can begin.

How do I communicate with other members?

It is encouraged to communicate using the Message Center on ReleaseMyLease.com.

How can I get better visibility of my listing?

High visibility can be achieved by chooing to upgrade a listing to feautred status, allowing for image rotation on the ReleaseMylease.com home page and priority within search results.

ReleaseIt! FAQs

How can ReleaseMyLease.com assist me in avoiding early termination penalties/fees?

By finding a qualified replacement for your current contract, you can ensure the continued payment of your current lease or membership without incurring an early termination fee.

You should always receive approval from your property manager or service provider before conducting a lease transfer or sublet of your property or service. Please note that a transfer fee might still be applied in certain situations.

How do I know if I have the ability to transfer my contract?

You will need to review your contract to verify that you have the ability to transfer or assign your contract to another person. Your property manager or service provider will also be able to provide additional information on your options.

How can I be notified of interested parties?

In your profile, you will need to select the option to receive notifications for your listings.

How do I post multiple items?

Each item must be posted separately. All items that you have posted can be tracked and maintained within the “My Listings” view of the “My Account” section.

How long will my listing remain active on ReleaseMyLease.com?

Each listing will stay active based on the amount of time remaining on your current lease or the end date provided during the creation of the listing. Once the listing end date has been reached, your listing will expire. All expired listings will be available in the “Inactive Listings” view

Can I edit my listings?

Yes, you can manage all of your listings through the “My Account” section.

How do I find my listings?

All of your listings will be located in the “My Account” section.

How do I cancel my listing?

To cancel your listing(s), select the listing(s) within your “Active Listings” view. Then click on the End Listing button. You will then be prompted to confirm the closing of the post. All cancelled listings will be available in the “Inactive Listings” view.

How do I know if someone is interested in my listing?

Within the "My Listings" view of the “My Account” section, you can see the number of people who have shown or viewed your listing. Additionally, you can also receive notifications of activity against your listing if you choose this option within the "Personal Info" section.

Do I have any responsibilities once my contract has been transferred?

Generally, once the contract has been transferred, you should not have any further obligations. However, some contracts may allow you to find a replacement but still hold you accountable. Make sure you have thoroughly reviewed and understand your contract. It's also best to have your property manager sign a Consent to Assignment of Lease form to release you from all obligations. For a service provider, be sure to obtain a confirmation letter or email stating that the transfer has been performed.

LeaseIt! FAQs

What is the benefit of taking over a contract?

By taking over a contract, you have the potential of obtaining a lower rate and/or shorter term than one achieved by signing a new contract. Depending on the terms, you may also inherit special privileges that may no longer be available within newer contracts.

Can I save my searches?

Yes, you will have the ability to save your searches and subscribe to RSS feeds so that you can easily have new content available to you based on your interests.

Commercial Leases FAQs

Will there be any issues with my property manager?

There is always a possibility of running into issues with your property manager. It is best to refer to your rental agreement to view any restrictions regarding lease transfers/assumptions and subletting. You should always communicate your interest in transferring your lease with your property manager.

Residential Leases FAQs

Where can I find out more information on my state's laws regarding residential leasing?

To obtain the most current information on your state's laws, it's always best to contact a real estate attorney. In the meantime, we've compiled a list for each state to give you general information on their specific laws. You can view the list here.

Will there be any issues with my property manager?

There is always a possibility of running into issues with your property manager. It is best to refer to your rental agreement to view any restrictions regarding lease transfers/assumptions and subletting. You should always communicate your interest in transferring your lease with your property manager.