The termination letter template is usually used to write a lease termination letter; when a tenant wishes to move out; the tenants must then write an official note addressing the landlord for ending their lease. This letter lets the landlord know that a tenant wishes to end their lease and move out. The term lease applies for the exchange of property for a period of time in return for services or money. Landlords give out their rental property via a contract stating for how long a tenant wishes to stay. Some rental agreements require a notice period of well above one or two months; this helps the tenant find a new place to move in and also helps the landlord find another tenant to replace their previous ones. If one refuses to or fails to write a lease termination letter, then there could be many issues for both the tenant and landlord, including financial penalties, court attendance, loss of security deposit for the tenant.
Different Types of Lease Termination Letter
• Mutual Lease Termination Letter: This is an agreement between the landlord and the tenant agreeing on the same date and time for termination of lease. In certain cases, the tenant might even renew the contract if they change their mind.
• Early Lease Termination Letter: This is a formal letter written by a tenant when they wish to move out of the rental property earlier than the agreed date and time in the original lease agreement.
• Late Rent Notice: This is a letter written by the landlord to the tenant stating that their rent is past due date and should be paid immediately. In a few cases, tenants are unable to pay for several months, which can lead to landlords using combative language. In such cases, the landlord writes a termination letter to the tenant and asks them to move out.
• Eviction Notice: This type of termination letter is very rarely used, it is a notice written by the landlord to the tenant, if the tenant has violated the rental property or a condition in the lease agreement. Thus, the landlord sends an eviction notice telling the tenant to vacate the property within a period of few days.
How to Write a Lease Termination Letter?
The first step to write a lease termination letter is to gather all the information regarding the landlord and the property, that includes the property’s name and address, the actual date of expiration of contract and the renewed date of ending lease, the reason for the termination of lease and any other information release to the contract. All this information should be filled in a lease termination letter template; also the date should be mentioned and this template should be signed at the bottom to make it original and official document. Once the template is filled, the letter should be immediately delivered to the landlord; one must give a notice of at least 60-90 days to the landlord before moving out. In the end, the tenant must collect their security deposit, if they haven’t damaged the property in any way. The tenant must mention where and when they want to collect their security deposit.
