Lease Agreement Early Termination

April 10, 2021

If a landlord ignores tenants` complaints and requests to fulfill these obligations, the tenant may break their tenancy agreement. No financial costs. If the tenant has found a privileged place, moves in with his partner, wants to buy a house or moves out of town, the landlord is not on the hook to release it prematurely. However, the requirement of an early termination tax is legitimate to seize the deposit and use it as a rent is not recommended. They confiscated the deposit to carry out repairs to the unit caused by the tenant`s occupation, beyond the repair of normal wear and tear. If you invest that money in rent, you will no longer have the money to make the repairs you would normally need if a tenant moves. Here`s an example of reciprocal termination of the lease that you can customize and send to your landlord today. You should also keep in mind that a tenant who wishes to terminate his tenancy agreement may lose his deposit. In this case, they are more likely to deliberately damage the unit or not pay the rent anyway.

You will need this down payment to make repairs and then deposit a fee for unpaid rent. Tenants want to break their leases for a variety of reasons - personal, professional or because the landlord has broken the lease. Depending on the reason, the landlord may be legally required to release the tenant without damage (as long as the tenant follows the protocol). In other situations, it is helpful to be compassionate and work with the tenant to find a solution. Job loss: There is no current public or federal protection for tenants who have lost their jobs. We recommend working with the tenant to terminate the tenancy agreement so that they can find more affordable housing. If lost work is only a temporary problem, landlords can work with their tenants on a creative payment plan. This could include signing a new rental agreement extending their stay.

This protects the owners from the vacancy. Consider adding a start-up rental plan. If you own a property, you may be asked to terminate a lease prematurely due to dozens of different factors. For example, you can sell the property. B if the market is good or if your tenant causes frequent problems. But just because you want your tenants to move prematurely doesn`t mean you can do it legally. Take the next steps to make sure you are getting closer to the situation in the right way. Feel free to notify me at any time for the inspection or if you have any questions or concerns, please contact me by email at or by phone at (323) 233-3232. Remember that if you let one tenant break your lease and not another, you may be discriminated against. The best thing is to have a policy that you can apply to all customers. If your tenant sends you a formal early termination of the letter of tenancy and plans to evacuate the unit before the end of the lease, you are in most states obliged to search for a new tenant ("damage reduction" legally marked).

Legally, you cannot keep the tenant on the rental terms and rent them to you, while the unit is passively free until the end of the lease. Tenants must pay their fees for early termination. Plus, the monthly rent. It`s clear and simple. The agreement - sometimes called a mutually agreed termination contract or only an early termination contract - must exempt you completely from your tenant obligations. The basics are: Job loss: it makes sense to be compassionate here. If your tenant can no longer provide the income to pay rent, it makes no sense for them to continue to live in your rent. At that time, in their lives, they would not have been able to meet the screening criteria that you set when renting the unit to them.

Join our Insider's Club Sign up here for special offers  


Showroom Hours:Monday - Friday, 9am - 5pm

Address:2801 Centre Circle Drive Downers Grove, IL 60515

Please complete the form below to request a quote.

Contact Information

Location Information

Service Interest

I am interested in...