How to Terminate a Rental Agreement in 5 Simple Steps?

The procedure of terminating a rental agreement is straightforward for both the landlord and the renter. Instead, it is crucial to be aware of the precise processes since if they are followed, nothing unusual should occur. Additionally, the most important thing for the agreement’s terminator to understand is that the agreement can terminate unilaterally with three months’ notice or by mutual agreement of the parties at any time.

The majority of tenants and property owners do execute rental agreements, and the provisions included within are generally comparable across the whole country. While everyone’s attention is on the common elements—such as the amount of rent or lease that the tenant is required to pay, the advance deposit, the duration of the contract, etc.—few people give much attention to how to end a rental arrangement. But what if you find yourself in a scenario where you need to move into a new home right away?

How to terminate a rental agreement?

An agreement’s termination is just as crucial as its creation. When you encounter a similar circumstance in the future, having a better understanding of what termination is and how to handle it can be helpful.

• It’s crucial to read the rental agreement’s Termination clause carefully. Both the owner and the tenant have a responsibility to follow the terms of the clause.
• Your rental agreement’s clause states that if the notice period for termination is two months. Either the renter or the owner must give two months’ notice before terminating the lease.
• Additionally, if the tenant is unable to wait until the notice period is over, even if he does not remain in the rented home, he will bound to pay rent for the notice period.
• It is also suggested that both parties give written notice in order to clear up any confusion.
• There are probably no risks if both parties—the owner and the tenant—have no objections to ending the lease.
• Further, if the owner requests a few months’ rent and any additional charges that are in compliance with the agreement, the tenant is liable to pay.

Reasons of Agreement Termination by Tenants

When its term expires, a rental agreement or tenancy agreement automatically terminates. However, in certain situations, either a renter or an owner may terminate the agreement before the rental period is up. Although either party may choose to cancel the agreement for a variety of reasons. The following are the most common ones.

Increased rent or deposit

Due to raising market trends, the owner may suddenly increase the rent or demand a larger deposit or lease amount, which is unfair to the tenants. In addition, the owners are not allowed to do so before the term has ended or without providing the renters with adequate notice and time.

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Additional expenses

When owners ask extra costs for water, energy, maintenance, cleaning, etc. that they would not have discussed earlier, tenants find this to be the first thing that irritates them. Further, tenants become irritated by these extra expenses, which may cause them to reconsider staying in the same home.

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House Condition

There may be concerns such as leakage, seepage, bad odour in the neighborhood, health issues caused by staying in the premise, malfunction fixtures, broken pipes, frequent power outages, and so on that are overlooked by any renter.

A new job

The tenant can receive an unexpected job offer or find a new work elsewhere. They would prefer to move right away in that case.

Disputes

Any neighbor or the owner may frequently argue or have misunderstandings, which would make the tenant’s stay very unpleasant.

Safety issues

The tenant can believe that staying in the rented space poses a threat to his life, property, or health. Additionally, if there are many crimes or incidents of any kind in the area, the tenant can begin to feel uneasy about staying in the same place. Hawks Melbourne City Rawalpindi is a safe housing community to live.

Reasons of Terminating Rental Agreement by Owners

Following are the reasons to terminate rental agreement by owners:

Unable to Pay Rent

The owner may decide to end the rental agreement if the tenant frequently delays or fails to pay the rent or deposit amount on time.

Lease the property’s space

Without the owner’s permission, a renter may sublet the property or a portion of the premises to someone else. Which is undoubtedly not desirable to the owner. Even if the tenant’s home receives an excessive number of visitors, some landlords might not be amenable.

Illegal or Unsocial Behavior

The owner has the right to cancel the lease if the renter determine to engage in any illegal, immoral, anti-social, or anti-national behavior, terrorist activity, the storage of explosives or illegal narcotics on the property, or other criminal activity.

Excessive Noise

Issues like playing loud music and throwing loud late-night parties would disturb the neighbors. They would then complain to the owner about the tenants. Moreover, the owner may request that the tenants leave the property if a problem continues.