Leasing License Practice Exam

What is the easiest way to end a lease?

1. Negotiate an exit

2. Let it expire

3. Provide written notice

4. Transfer it to someone else

The correct answer is: Let it expire

Letting a lease expire is often considered the easiest way to end it because it requires no additional action beyond the initial terms agreed upon when the lease was signed. Leases typically have a defined term, such as a year or month-to-month agreement, and the conclusion of this term signifies the end of the lease relationship without the need for further negotiation or formalities. This approach provides a clear and straightforward end to the leasing arrangement, as it means both parties fulfill their obligations up to the expiration date. There’s no need to draft additional documentation or undergo any process to transfer responsibility, which might require cooperation from other parties or compliance with specific laws. Choosing to negotiate an exit, provide written notice, or transfer the lease entails additional steps or arrangements that may complicate the situation, whereas simply allowing the lease to reach its natural conclusion does not require such interventions. This makes letting the lease expire a convenient choice for both tenant and landlord when no further commitment is desired.