A lease agreement or rental agreement is a document that explains the terms under which a tenant rents a residential or commercial property from a landlord. Lease agreements are legally-binding contracts that explain the obligations and rights of both the tenant and landlord. You can further support your original lease agreement by modifying the terms with a lease amendment. Additionally, you can end an existing lease with a lease termination letter , or extend a rental for another term with a lease renewal.
As a tenant, there are many reasons why you might choose to terminate your lease before the legally agreed upon date. Whatever the reason, you have to inform your landlord of your intent by writing an early lease termination letter. It is important for you to issue a notice to your landlord that you base on your original lease agreement if you decide to end your lease prematurely.
Tenants who intend to stay at a particular rented property may end up changing their minds down the line. Regardless of what the specific reason is, their intentions can be put into writing in the form of a lease termination letter. A lease termination letter, also referred to on occasion as a mutually agreed upon termination agreement, is a document intended to completely release a tenant from his or her responsibilities as the leaseholder of a particular property. Whether or not the tenant in question is granted the termination is at the discretion of the landlord.