Early Termination in relation to Tenancy / Lease

The document titled 'Early Termination in relation to Tenancy / Lease' is an agreement for the early termination of a tenancy agreement. The document is important as it provides a legal framework for both the landlord and the tenant to terminate the tenancy before the original expiry date.

 

The document begins with the title 'Early Termination in relation to Tenancy / Lease' and includes the following sections:

 

1. Agreement Information: This section includes the names and addresses of both the landlord and the tenant, as well as the date of the agreement.

 

2. Original Expiry Date: This section states the original expiry date of the tenancy agreement.

 

3. New Termination Date: This section specifies the new termination date agreed upon by both parties.

 

4. Vacant Possession and Outstanding Rent: This section outlines the tenant's responsibility to deliver vacant possession of the premises and pay any outstanding rent and utilities until the termination date.

 

5. Condition of the Premises: This section states that the premises should be in the same repair and condition as when it was first leased, except for fair wear and tear and damage caused by inherent defect. It also mentions that any necessary repairs will be deducted from the security deposit.

 

6. Payment Consideration: This section provides options for payment consideration depending on whether the landlord pays the tenant or the tenant pays the landlord on the termination date.

 

7. Release of Claims: This section states that after the successful transfer of the premises and payment of the agreed amounts, neither the landlord nor the tenant will have any other claims against each other.

 

8. Governing Laws: This section states that the agreement will be governed by the same laws as the original agreement.

 

The document provides a clear and detailed framework for the early termination of a tenancy agreement, ensuring that both parties are aware of their rights and responsibilities.

How to use this document?

To use the 'Early Termination in relation to Tenancy / Lease' document, follow these steps:

1. Enter Agreement Information: Fill in the names and addresses of the landlord and the tenant, as well as the date of the agreement.

2. Specify Original Expiry Date: State the original expiry date of the tenancy agreement.

3. Agree on New Termination Date: Determine a new termination date that is acceptable to both parties.

4. Vacant Possession and Outstanding Rent: Ensure that the tenant understands their responsibility to deliver vacant possession of the premises and pay any outstanding rent and utilities until the termination date.

5. Assess Condition of the Premises: Inspect the premises to ensure that it is in the same repair and condition as when it was first leased, except for fair wear and tear and damage caused by inherent defect. Agree on any necessary repairs and deductions from the security deposit.

6. Determine Payment Consideration: Decide whether the landlord will pay the tenant or the tenant will pay the landlord on the termination date. Specify the amount and currency.

7. Release of Claims: Once the premises has been successfully transferred and the agreed amounts have been paid, both parties should acknowledge that they have no further claims against each other.

8. Follow Governing Laws: Remember that the agreement will be governed by the same laws as the original agreement.

By following these steps, both the landlord and the tenant can effectively and legally terminate the tenancy agreement before the original expiry date.