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A lease termination letter notifies the other party that a residential lease is ending or will not be renewed, which is crucial if the lease concludes earlier than expected. Before drafting the letter, understand the lease's term and current duration, referring to your lease agreement if needed. For landlords, terminating a lease early involves eviction, which has varying state-specific rules regarding termination conditions and notice periods for tenants. It’s important to check your state's rental agreement guidelines for detailed information on these processes.