Early Termination

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Dynamite
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Early Termination. Sometimes you, as landlord, might be faced with the situation where the tenant, through one reason or another, might want to terminate a fixed term contract early. The landlord has the right to expect the tenant to pay the rent and observe the obligations of the tenancy agreement, such as pay the council tax, for the remainder of the term, but must mitigate his losses by trying to find another tenant. If the landlord advertised the property at a higher rent than at present, as a result of which there was no response, then it would be arguable that the landlord had failed to mitigate his losses. The alternative is if the tenant found a replacement himself, at the contractual rent, and who is acceptable (credit references, etc.) to the landlord.

Of course, the tenant who wants to leave early, will be responsible for paying the landlordís costs involved in re-letting the property (advertising fees, tenancy agreement and, if applicable, agentís re-letting fees).


21/02/2007 00:00

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