What Happens To Early Termination of Tenancy

November 6, 2019March 21, 2021 Alicia 0 Comments early termination, eviction, landlord guide, Tenancy Agreement, Tenant, tenant guide

Terminate your tenancy agreement early - how as a tenant can you terminate early

There are cases where you either as a tenant or landlord will want or have to terminate your agreement earlier than expected. Whether due to work relocation or personal reasons, we understand that it can’t be helped. If you do, here is what you need to do.

What Tenants Need To Provide for Early Termination

As a tenant on SPEEDHOME, you must fulfil these conditions when early termination occurs. Here’s a checklist for easy reference.

1. Give your landlord and SPEEDHOME 2 months’ notice before the termination date.
2. You must pay 50% of one month rent as a penalty fee if early termination is done within the first half of the original term; OR
3. You must pay 25% of one month rent as a penalty fee if early termination is done beyond the second half of the original term.

For example:

If you terminate early on the 1st to 6th month or first 50% of the tenancy period, you must pay 50% of one month rent as a penalty fee; OR
If you terminate early on the 7th to 11th month or the remaining 50% of the tenancy period, you must pay 25% of one month rent as a penalty fee.

4. Arrange the handover of keys upon moving out.

What Landlords Need To Do for Early Termination

SPEEDHOME’s tenancy agreement lasts for a full year. You must inform SPEEDHOME immediately at 0187777650. The landlord will be liable for any cost if they violate the terms of the agreement.

Need more info? Give us a call at 0187777650. You can also email us at [email protected] and we’ll get back to you about how we can arrange the best rental experience right here at SPEEDHOME.