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What is
Surrender of Tenancy Rights?
Express and Implied Lease Surrender
Do
you want what is the surrender of tenancy agreement and how to use to
terminate a lease agreement early? Read on and find out how to
surrender a tenancy quickly and easily today.
Are You Looking for a Surrender
of Tenancy Form? Click
Here for Our Early Lease Termination Agreement Form
What
is Surrender of Lease Agreement?
When a tenant surrenders the tenancy, he agrees to give up his
legal rights as a tenant and return possession of the rental
property to his landlord. This will effectively terminate the
lease agreement and end
your
landlord-tenant relationship.
One important thing to note is that for the surrender of lease to be
effective, both the landlord and the tenant has to agree to it. If the
lease agreement involves more than one tenant, every tenant has to
agree to end the tenancy.
What
are the Different Ways to Surrender Your Tenancy?
There are two ways you can choose to surrender the tenancy - Express
and Implied
Express
surrender simply means using a written agreement ( Click here for our
free surrender of lease form ) to formally end the tenancy
between you and your
tenant. Naturally both landlord and tenant will have to sign on the
agreement.
Implied surrender of tenancy is ending a tenancy without using any
written
documents. In this case, both the landlord and the tenant will take
actions to show they mutually agree to the end of the tenancy.
For example, the surrendered tenant will remove his belongings from the
property
and move out. In response, the landlord will then respond by taking
back the
property and perhaps re-renting it to a new tenant.
To play it safe, we highly recommend that using express surrender of
lease because it protects you with a written record in case your
tenant backs out on his words.
What
will Happen After Your Surrender of Tenancy Rights?
Once
you and your tenant have surrendered the tenancy, both of you will be
released from any future obligations to each other. Your lease
agreement will end and he will no longer be your tenant in the eyes of
the law.
However you and your tenant will still be responsible
for your past obligations before your surrender of lease. For example
if your tenant owed you rent or utility bills before giving up his
tenancy, he will still have to pay up.
If you have any
subtenants staying on your rental property, they will be not affected
by this surrender. They will continue living on your property with the
same terms and conditions as their sublease. However they will become
your direct tenants and you will be held responsible for them.
Do you want to learn more practical must-know facts on
ending your tenancy?
Return
from this Surrender of Tenancy page to our How to Break a Lease Agreement guide
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