There are many reasons a lease may need to be terminated before its specified date.
Some reasons include:
• Selling your property with "vacant possession”
• Urgent repairs/works
• Non-payment of rent
To end the lease you need to provide the tenant with a written termination notice that is dated, signed and addressed to the tenant.
The notice should state clearly the reason for termination very clearly, the date you want the premises vacated by and keep a copy of the notice for your records.
In the case of termination because of non payment of rent, you generally need to wait for 14 days after allowing the requisite time to lapse, before giving notice
Notice periods differ from State to State, so be sure to check with the governing authority in your area.
Then you will need to apply for a court order to terminate the lease for nonpayment.
It is illegal to change the locks without a court order and you could face a fine of as much as $22,000.
It is important that you follow the procedure for termination and eviction carefully as failing to do so, can mean that your tenant can take you before a court or tribunal.
Keep accurate records and documents that support the steps you have taken, to comply with the lease agreement.
Using a platform like RealRenta, means that all notices and communications with your tenant are kept accurately, for your access at any time.
Start your Free Trial here: https://app.realrenta.com/Signup.aspx
Friday, 26 July 2019