Having completed the term of the lease contract he must therefore pay the sum of the rent as a penalty. The total value of the rentals is $. The penalty is that amount so the penalty will be $. It is important to stress that there are several factors that are variable that will affect the calculation of the penalty for each lease contract. Also Read How to Deal with a Defaulting Tenant What Documents Are Required When Finalizing a Tenancy Contract? There are a number of important documents that must be produced when finalizing the agreement to prove that the property is in the same condition as when it was handed over to the tenant to avoid problems. It is important that even at the time the contract is drafted the checklist is drawn up in accordance with the Tenancy Act.
It is also a good idea to ask for proof of payment of debts Fiji Email List associated with the property such as last paid electricity, gas and water bills and attach payment history and final consumption outage payments. Apartment properties must also require proof of change fees paid for the last three apartments and a debt statement signed by the apartment manager or administrator. In other words don't forget about the mandatory check at the end of the agreement. The documentation required by a landlord to terminate a residential lease largely depends on the real estate company's own policies. However the above are considered essential as they will ensure that neither party is harmed thereby leading to greater satisfaction at the end of this Agreement.
Also read Tenant rights when renting a property To better help you break out of your lease we have prepared a video looking at the key practical tips for writing a termination clause in your lease. In what circumstances can the contract be terminated without penalty? Yes there is a very special situation in which the penalty for breach of the lease contract can be waived. Exceptions in these cases are where a change or transfer of location is required and the landlord must be notified at least 30 days in advance. As stated in the article contained in this law Art. The only paragraph. The lessee will be exempt from fines if the property is returned as a result of the transfer of its employer, whether private or public, to a location other than at the inception of the contract for the provision of services and if the lessee gives the lessor at least thirty days' written notice.