Lease Break Process
Breaking Your Lease Agreement
At Davies Property Management, we understand that circumstances may arise that require you to terminate your lease agreement early. While our Residential Rental Agreement includes a clause that allows for early termination, it's essential to follow the specified steps to ensure a smooth transition. Once these steps are completed and the property is returned in good condition, the existing lease will be terminated, and all deposits will be refunded in accordance with the lease agreement.
Steps to Terminate Your Lease Early
1. Pay the Lease Break Fee
The lease break fee specified in your Lease Agreement must be paid upfront. Payment can be made through e-transfer, mailed in, or dropped off in person.
2. Offer a Tentative Move-Out Date
Provide your property manager with a tentative move-out date. For example, indicate that the home will be ready to turn over to a new tenant no later than "X" date. This date is crucial for our marketing efforts to inform potential tenants when the home will be available. This date can be flexible to accommodate your situation.
3. Assist with Showings
It's in your best interest to assist with all showings to facilitate attracting a new applicant. Allow time for showings when requested and ensure the home looks as presentable as possible. This effort will help rent the home quickly.
4. New Tenant Applies
Your property manager may contact you to verify move-out dates or propose a plan to coordinate with an incoming tenant. This communication ensures a seamless transition between tenants.
5. Vacate the Home in Accordance with the Lease
Ensure the home meets the cleanliness and condition standards outlined in the signed lease agreement. The deposit refund will be determined after you vacate and the home has been inspected. Fees may be assessed if the home is left dirty or if there are damages.
6. Provide a Forwarding Address
Supply us with a forwarding address so we can send a copy of your rental statement and your security deposits.
Important Reminders
- All rent payments, utilities, and upkeep of the home are your responsibility up to and until the day the lease starts with the approved incoming tenant.
By following these steps, you can ensure that the process of breaking your lease is handled professionally and efficiently. If you have any questions or need further assistance, please do not hesitate to contact us.
Davies Property Management is committed to providing exceptional service to both our tenants and property owners. We appreciate your cooperation and understanding in adhering to these procedures.