When in a rental agreement, there may come a time where you will have to break the lease or simply terminate it. There could be several reasons attached to it. If you are a landlord then you might just want to get rid of the tenants as they are hard to live with or you are offered an amazing deal on the sale of your property. If you are a tenant, you might choose to leave early because you switched your job or the house is unhygienic and inhabitable now. Whichever the case maybe, you have certain options for termination of lease. Here is a brief guide for you to terminate lease agreement early amicably.If you are a landlordTo be on the safer side, landlords usually add the termination clause in the lease agreement. Have a look at it and act accordingly. Often the landlord has to give a month’s period to the tenant to vacate the property premises. If you haven’t added the clause in your agreement then you might have to come to consensus with your tenant and ask them to vacate the premises. Here are a few reasons I feel might seem valid to the tenant to vacate the property.
You want to sell the property
You want to renovate or reconstruct the property
Your tenant has not been paying regular rent
If you are a tenantAs a tenant, you too have the right to vacate the property. You can check the lease agreement and check for the termination clause. You may have to serve a notice to your landlord and inform them of your intentions. Apart from this, if you have not entered into such an agreement, you can explain the situation to your landlord. Here are a few reasons which will help you with the early termination of lease agreement.
You are switching jobs hence need a new place to stay
The property is unsafe and uninhabitable
Landlord is intrusive
I hope this should help you understand how to terminate lease agreement early.
Generally, early termination of lease agreement by landlord or a tenant is not possible but there are certain grounds on which the lease can be terminated early by the tenant as well as by the owner. Create a legally valid rent agreement online using NoBroker Rent Agreement servicesHow to cancel rental agreement in India if you are a landlord?Often the landlord has to give a month’s period to the tenant to vacate the property premises. If you haven’t added the clause in your agreement then you might have to come to consensus with your tenant and ask them to vacate the premises. Here are a few reasons I feel might seem valid to the tenant to vacate the property.
You want to sell the property
You want to renovate or reconstruct the property
Your tenant has not been paying regular rent
How to terminate rent agreement if you are a tenant?You may have to serve a notice to your landlord and inform them of your intentions. Apart from this, if you have not entered into such an agreement, you can explain the situation to your landlord. Here are a few reasons which will help you with the early termination of the lease agreement.
You are switching jobs hence need a new place to stay
Are you thinking how to terminate a lease early without penalty? In India, both landlords and tenants have the option to terminate a lease agreement early. If you are a tenant, you can check the lease agreement for a termination clause. If there is no such clause, you can serve a notice to your landlord and inform them of your intentions. You may have to pay a penalty for breaking the lease early, which is usually 1-3 months’ rent.
Can Owner Terminate Lease Early?
It is important to note that early termination of a lease agreement by a landlord or a tenant is not always possible, but there are certain grounds on which the lease can be terminated early by the tenant as well as by the owner.If you are a landlord, you can add a termination clause in the lease agreement. If there is no such clause, you can come to a consensus with your tenant and ask them to vacate the premises. You may have to give a month’s notice to the tenant to vacate the property premises. If you haven’t added the clause in your agreement, you might have to come to a consensus with your tenant and ask them to vacate the premises. Here are a few reasons that might seem valid to the tenant to vacate the property:
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How to terminate lease agreement early?
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August 10, 2021
2021-08-10T17:10:40+00:00 2024-01-04T08:44:15+00:00Comment
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Rent and Lease
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