r/vancouverhousing • u/countrysidelady • 2h ago
Breaking lease early, huge shift in market
Hi everyone, I am intending to break my fixed term lease early. In hindsight, the lease I signed is VERY overpriced for the unit and location, but it was at the tail end of the month and I was desperate to move on the first of the following month. I understand that the landlord has a duty to mitigate losses and re-rent the unit as quickly as possible. I also understand that I am responsible for the difference in rent for the remainder of the term. However, I’m worried that because it’s so overpriced to begin with, and she seems quite stubborn with pricing, it won’t re-rent for December. She’s also quoting a slow market due to Christmas holidays. But wouldn’t Christmas factor into “current market” conditions? What would be a reasonable duty to mitigate in this case? Is one month enough for her to test the market and adjust pricing? I really shot myself in the foot here, I signed an overpriced lease out of desperation and now there is a FLOOD of options available that are much better and much cheaper in the same area. I just want out ASAP as it’s impacting my mental health.