Ending A Lease Agreement Early

Your lease tells you when the break clause may apply. For example, your break clause might indicate that you can terminate your lease 6 months after the start if you terminate 1 month in advance. Explain why you want to cancel your lease prematurely, for example. B at your workplace that has changed, or you need to move to care for a parent. In order to protect yourself from the complexity of the process of finding a new tenant, you must enter an early termination clause on your leaseholders. If you formalize the early termination allowance with the associated costs, you can protect yourself and give the tenant an easy way out. It frees the tenant from the responsibility of the balance of the lease as well as gives you some money to cover a few months of an empty unit while you are looking for a new tenant. Early termination fees are usually two months` rent. More would be considered excessive by the courts.

If your temporary rent has a break clause, you must get all tenants to agree to the termination of the lease, unless your agreement says otherwise. When and how much notification you give depends on the type of lease you have and what your lease says. Don`t just leave the property or place the keys in your landlord`s mailbox after you`ve reached an agreement. Of course, you probably didn`t sign the lease with the intention of breaking it. Life can have unexpected twists and turns, and it`s not uncommon for tenants to want to move before their lease is done. If the terms of the original lease are met, your landlord may be open to having an alternative tenant in the room. Regardless of this, it is important to get your landlord`s approval before signing a sublease agreement with a new tenant. If the tenant or landlord has undue difficulties (for example. B serious financial or health problems), it can make an urgent request to QCAT for an order to terminate the agreement.

However, QCAT may also order payment of compensation, even if the contract is terminated. Many early termination clauses include early termination fees. But you don`t need to include the ability to pay a fee – you can just require them to pay rent until you find a replacement tenant. However, if you do not have an early termination clause, the law requires the tenant to cover your losses until you have found a new person. However, this helps to spell everything in the rental agreement. See “lease transfer” and “contract break” at the end of this fact sheet. If your landlord doesn`t give you a new tenant, you can still terminate your tenancy agreement prematurely. You may be able to agree to pay part of the rent for what is left of your fixed life.

If you have. B still 3 months to your fixed-term contract, your landlord can agree that you can only pay 2 months` rent instead. Many tenants have to terminate a lease prematurely due to unforeseen circumstances. There are consequences of breaking a lease, but it is better to face a small penalty now than to expect legal consequences later. Whether you pay an early termination fee or a rental obligation until a new tenant is found, a correct termination of your tenancy agreement can save you time and money in the future.