Lease Termination Agreement

Generally a lease or rental agreement is for a fixed term (e.g. one year), which means that the Landlord and Tenant are contractually bound for the duration of the lease termƒ?the Tenant must continue paying rent and the Landlord must continue to allow the occupancy of the premises for the entire term of the lease. However, under certain circumstances, both the Landlord and the Tenant may wish to end the lease prior to the expiration of the lease term. In this case, the Landlord and Tenant should enter a lease termination agreement. This agreement is simply a written record of their agreement to end the lease early. By entering into this type of agreement, the parties can avoid many future problems and misunderstanding surrounding the termination of the lease. (continued ...)