Lease Cancellation Agreement for Free
We have talked about leasing business, but people are rarely mentioning a lease cancellation agreement. When we’re talking about renting property, it’s not just about the landlord who has to be committed, the tenant has to do the same. The tenant also has something on the line when they chose to rent a property, and it’s not uncommon for things to go wrong for them.
There are times when the lease just doesn’t benefit the tenant anymore and if they’ve found a place somewhere else, a lease cancellation agreement is needed. In this article, we’re releasing our templates for the cancellation agreement. We hope that tenants out there can use our templates to make the process much easier and quicker, so that they can move to the new place as soon as possible.
How to Cancel a Lease Agreement
Before we get to the agreement, we need to talk about some other ways to cancel the lease agreement. Lease agreement can last for a year and while there are laws in place to protect landlords, in most cases if you need to cancel the agreement and move somewhere else, you’re at the mercy of the landlord and the terms of agreement you signed.
Just simply moving out without notifying your landlord can lead to lawsuits and harm your credit score. Here are some ways to cancel your lease agreement the right way.
- Using a buyout clause – read your agreement again, often in these agreements there is a clause that require you to pay a flat amount as a fee and give notice to your landlord if you want to break your lease early.
- Clarify the terms again – speak to your landlord and ask them about the terms again to avoid lawsuits. Especially those terms that are difficult to understand.
- Provide notice – back to the buyout clause, if it contains a requirement that you notify the landlord in advance, do so as soon as possible. Generally, even if its’ not mentioned in the agreement, give your landlord a notice anyway.
- Leave the property in good condition – even if you think that the place isn’t good at all, you may need to stay friendly with the landlord. You may need to use the landlord as a reference in the future.
Like we said before, feel free to use our templates of lease cancellation agreement to make the process easier.