As a landlord, you have to learn to deal with tenants if you want your rental business to thrive. That also includes knowing how to terminate a lease agreement properly. There are many reasons you might wish to remove a renter from your property. Thus, this article could offer some much-needed insight whether you’re in a jam or done with a tenant’s antics. A Lease Termination-
In this brief guide, we’ll look at how to write a lease termination notice to tenants. Also, we’ll discuss some of the legal reasons landlords can terminate a lease. Although, if you hire a property manager who understands the eviction process, you’ll hardly have to worry about that.
Legal Reasons Landlords Can Terminate a Lease
Violation of Lease
When either party violates the terms of their lease, the other person has the standing to pull out of the arrangement. For landlords, that might mean if your renters are caught subletting the unit without your permission or vandalizing the property. That’s one of the reasons experts recommend drawing up an airtight lease. It protects you and your investment from challenging tenants.
Sale of the Property
There are many reasons you might decide to sell your current rental property. You might be relocating to a new city or looking for a better investment opportunity. (Do follow this link to find out what you need to know before buying a new house: https://latestbulletins.com/things-to-know-before-buying-a-new-home/ ). Either way, when you’re no longer the legal owner of a property, your contract with your tenant is void. Thus, you have to give your renters ample notification so they can move or establish an agreement with a new landlord.
Failure to Pay Rent
One of the clauses parties often include in a lease is the specifics about rent. Ideally, a formal agreement should consist of how much the tenant should pay, through what means, and what day of the month. You can ask a tenant to move out if they consistently miss their rental payments. They breach the lease by failing to keep their end of the bargain, and you can legally terminate the agreement.
As a landlord, one of your foremost duties is to ensure the habitability of your rental property. However, some scenarios require that your tenants move out of the units. For example, a terrible accident like a fire or flood can cause significant damage to your property. It might not be a detrimental loss if you have insurance, but it would be impossible for anyone to live in the house until repairs are complete. Thus, in such a scenario, you can legally terminate your lease.
Notice Requirements and What to Include
Property Address and All Parties Involved
When terminating a lease, your notice should be in written format. It should include the property’s full address and all parties involved, so there’s no confusion.
Reason for Termination
Additionally, you should also include the reason you’re ending the tenancy. This part is where understanding landlord-tenant laws come into the picture. If you deliver an illegal notice, your tenant could sue you for violating housing laws. Thus, it would help to do your research and stick to legal reasons only. When in doubt, contacting an experienced attorney to review your situation is a great idea.
Tenancy End Date
Before you write a termination notice, you should read your lease carefully. Besides knowing if your reason for wanting to remove a tenant is legitimate, it should also specify how many days’ notice you need to give. Every state has its laws, and you should adhere to yours to avoid legal trouble. Although the average notification is between 30 and 45 days, you should still double-check.
Finally, you need to include your signature at the bottom of the notice to make it binding. In some states, that’s enough, and you can serve it to the tenant. In contrast, others require that the tenant signs the document as well. Once again, it all depends on your jurisdiction’s policies. When the tenant is off the property, you can embark on your renovation or proceed with your sale. Click here to find out how to select the best lender loans for your property: https://latestbulletins.com/how-to-select-the-best-lender-for-loan-against-your-property/.
Tips for Smooth Move out Process
Offer an Incentive
Instead of fighting with your tenants, you can explain the situation and offer them an incentive. If the renter is not at fault for the termination, they might be sluggish in moving off the property. However, if you offer them a vacancy on another property or cash for a new deposit, they will be more inclined to move sooner.
Volunteer to Help
Additionally, you can also offer your assistance. Moving housing can be challenging, so if you can make it easier by lending a hand, your tenants would appreciate it and feel less like they’re being kicked off the premises. Besides moving boxes, you could contact a reputable moving company or connect them with an expert property manager.
Knowing how to write a lease termination notice to tenants can save you from legal trouble. Even when you have a legitimate reason to ask a renter to leave, you still need to give them proper notice. Also, you should try your best to be understanding. Tenants are more likely to comply when you’re considerate, offer them an incentive, or assist in other ways.
However, if you’d prefer to avoid a lease termination’s legal and physical rigors, you could employ help. Property managers are real estate professionals who can perform most landlord duties and make running your business smoother.