A rental agreement is an agreement between the tenant and the landlord. This contract allows the tenant to live in the landlord’s property for a certain period of time and requires payment in exchange for a certain fee. In some cases, however, either the tenant or the landlord may wish to terminate the rental agreement.
Since the rental agreement is an agreement for a certain period of time, there is a predetermined period of time for the contract to end. This period is usually one year, and if the lease agreement is terminated before the expiry of the specified period, it usually requires the payment of a certain penalty.
The first step to terminate the lease agreement is to read the terms of the agreement and determine when the contract expires. If the contract has expired, the tenant or landlord can terminate the lease without paying any penalty.
However, if the contract must be terminated before the contract expires, the tenant or landlord must determine the reason for termination. These reasons may include situations such as the tenant leaving the house, the landlord selling the house, or the tenant not paying the rent debt.
Termination must usually be made in writing. The tenant or landlord can send the termination notice by notarised letter or e-mail. This notice must state the reason for termination and specify the date of termination. The tenant or landlord must pay the penalty determined according to the terms of the contract.
Consequently, when terminating the tenancy agreement, the terms of the agreement and local laws must be complied with. The tenant or landlord must act according to the terms of the contract and give the notice of termination in writing. Also, if it is necessary to pay a penalty, it must be paid. In this way, the termination of the lease can take place smoothly for both parties.