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It is not always plain sailing when it comes to renting out a property. People’s circumstances change all the time. As a result, there might be an occasion when a tenant needs to move out before their tenancy ends. With this in mind, Anna Belton, a Lettings expert at John German explains what to do if your tenant wants to leave early.
To start with, find out why your tenant wants to move out before their tenancy ends. It could be that they can no longer afford to live at the property or they need to relocate.
You could choose not to let them end their contract early. However, your tenant may be unable to pay their rent and you will lose your rental income. Therefore, it is probably in your best interest to come to a mutual agreement and allow them to break the contract.
In this instance, there are a few options you can explore with your tenant.
Once agreed, it is very important to have a copy of the release and any associated conditions in writing and signed by you and your tenant. Make it clear to your tenant that they are legally bound to the contract and they will remain committed to paying the rent until either:
a) the agreement ends,
or
b) you begin letting the property to new tenants.
Unfortunately, it isn’t guaranteed your tenant will continue to pay the rent. If your tenant does indeed stop paying their rent, you could request to use their deposit to cover the costs instead. Alternatively, you may have to consider taking legal action against them or their guarantor.
Thankfully, there are ways to protect yourself if your tenant stops paying their rent. For peace of mind, I recommend taking out rent and legal protection cover; you can usually make a claim when a tenant doesn’t pay their rent for more than a month, or if you need to evict your tenant.
To find out more, please feel free to get in touch.
Date Posted
March 9, 2021
Article Category
Author
Katy Storer
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