Early Termination of Lease Agreement Alberta
Early termination of lease agreement Alberta: What tenants and landlords need to know
A lease agreement is a contract between a tenant and a landlord that lays out the terms and conditions of renting a property. These agreements usually have a specific end date, and the tenant agrees to pay rent until that date. However, circumstances might arise where the tenant needs to leave the property before the lease term ends. This is called an early termination of the lease agreement. In Alberta, there are certain rules and regulations that both tenants and landlords need to follow.
Reasons for early termination of lease agreement
Tenants may need to end their lease early for various reasons, such as job loss, relocation, or family emergencies. On the other hand, landlords may terminate a lease agreement early if the tenant violates any of the lease terms, such as non-payment of rent or damaging the property. In Alberta, landlords are not allowed to terminate a tenancy agreement without a valid reason.
When a tenant wants to end the lease agreement early, they must provide written notice to their landlord at least one full rental period before the intended move-out date. For example, if the rent is due on the first day of the month, and the tenant wants to move out on July 15th, they must give their landlord notice by June 1st. A notice of early termination of lease agreement should include the date of the intended move-out and the reason for ending the lease early.
In Alberta, landlords must also provide written notice to tenants if they wish to terminate the lease agreement early. The notice must be given at least 90 days before the intended move-out date and must state the reason for termination.
Breaking the lease agreement
Breaking a lease agreement means ending the contract before the agreed-upon date without providing proper notice or without a valid reason. In Alberta, if a tenant breaks the lease agreement, they may be held liable for paying rent until the end of the lease term or until the landlord finds a new tenant.
Landlords may also be liable for damages if they break the lease agreement without valid reasons. For example, if a tenant has paid rent on time and has not violated any lease terms, the landlord cannot terminate the lease agreement early without cause.
Early termination of a lease agreement can happen for various reasons, but both tenants and landlords need to follow the rules and regulations set by the Alberta government. Tenants must provide written notice to their landlords at least one rental period before the intended move-out date, while landlords must provide written notice at least 90 days in advance. Breaking a lease agreement can lead to financial and legal consequences, so it`s essential for both parties to understand their rights and responsibilities.