Are you stuck in a short term tenancy agreement and desperately looking for a way out? Whether you have found a better place or just need to move due to personal reasons, breaking a lease can be a tricky situation. However, there are a few ways to legally terminate a short term tenancy agreement without incurring heavy penalties. In this article, we`ll guide you through the process of breaking your tenancy agreement while minimizing your financial obligations.
1. Check your tenancy agreement
First things first, you need to review your tenancy agreement to understand the terms and conditions of the lease. Look for any clauses related to early termination of the lease, notice periods, and penalties associated with breaking a lease. Most short term tenancy agreements require tenants to give a notice period of one or two months before leaving. If you have a genuine reason for leaving earlier, you may be able to negotiate with your landlord to waive the notice period.
2. Communicate with your landlord
Once you have decided to leave the property, inform your landlord or letting agent in writing. Be honest about your reasons for leaving and provide as much notice as possible. If you have a valid reason for leaving before the end of the lease term, such as a job relocation or health issues, your landlord may be more sympathetic and willing to terminate the tenancy agreement early.
3. Find a new tenant
One of the easiest ways to get out of a short term tenancy agreement is to find a replacement tenant. If your landlord agrees, you can assign the remaining months of your lease to a new tenant. However, make sure that the new tenant meets the landlord`s criteria, and the terms of the lease are acceptable to both parties. Your landlord may charge a fee for transferring the lease or carrying out a credit check on the new tenant.
4. Pay a penalty fee
If none of the above options work out, you may have to pay a penalty fee for breaking the lease early. The penalty fee will depend on the terms of your lease, the remaining months left on the lease, and your landlord`s discretion. Some leases may require you to pay rent until the end of the lease term, while others may charge a fixed fee. It`s essential to negotiate with your landlord and come to an agreement that is fair to both parties.
Conclusion
Breaking a short term tenancy agreement can be stressful, but it`s not impossible. By following the steps outlined above, you can minimize your financial obligations and exit the tenancy agreement with minimal legal consequences. Always remember to communicate with your landlord and be transparent about your reasons for leaving. This will not only help you avoid any legal issues but also maintain a good relationship with your landlord.