Even if it is not yet the end of the lease or rental agreement, you or your tenant might have the need to terminate the tenancy agreement. It might sometimes appear as a bad idea for both parties to pre-terminate, but it all boils down to considering certain conditions. If you plan to terminate a lease agreement prior to the contracted termination period, look into the following pointers before making any further actions.
Here are the valid reasons through which tenancy can be terminated:
•Legal misconduct. If the landlord, for example, fails to maintain the premises, an issue of legal misconduct may arise. Take note of the rules being implemented in your locality or state. There are certain laws that give the tenant the right to end any lease obligations if he has any problems when it comes to having an access to the premises. Another example is when the premises have code violations that appeared to be unknown at first.
•Replacement of new tenants. Tenancy can also be terminated when there are new tenants that are legally accepted by the landlord. If there is a new tenant who pays the full amount for the rental in order to be able to move in, then the first tenant no longer has any obligation with the tenancy.
•Mutual agreement. Since it is against the law to have more than one tenant at a time for the same premises, the end of the tenancy obligations may be brought up by means of mutual agreement.
•Let the renter opt for a sublet. The renter can sublet the place until the tenancy contract has expired. There should be some stipulations included to this effect. The landlord must be the one to handle the background checking and reference for the new tenant. If there is no one to sublet the premises, the responsibility is returned to the original tenant.
•Sign a termination agreement. The landlord and the tenant can sign a termination agreement. Make sure that you specify the name of the landlord, the tenant, the original lease date, the address of the premises, and the new termination date. The agreement will be made legal after the signing and dating of all pertinent parties.
•Opt for a short-rent payment before eviction. Eviction can only be legally done once it complies with the rules of eviction stipulated by your locality or state. There are certain places where short-rent payment is allowed to be given when the repairs on the property are still undone.
•Think of specific violations by the tenant. Your rights as the landlord must be very well protected during this circumstance. Think of specific violations that the tenant has committed during occupancy. Look into the valid and justifiable reasons to have the tenancy terminated.
It is still ideal to consider every option that is available. With the legal ways to terminate tenancy, you protect not only your right as the owner of the premises, but also the right of the premises itself.