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Canceling a lease is the legal termination of a contract between the tenant and the landlord. It is as straightforward as it sounds if both parties agree to end the contract. The problem arises when only one party wants to end it. If youre lucky, the landlord might let you go.
Every lessor of residential premises shall, within two weeks after the termination of the tenancy and receipt of the tenants mailing address or delivery instructions, return the security deposit to the tenant, or furnish to the tenant, a written statement showing the specific reason for the withholding of the deposit
Bottom line: Once you sign your name to a lease agreement, youre bound to it. If you back out before moving in, the landlord will lose income they were relying on and must start all over looking for a tenant. At the least, you will be paying the rent until they find someone new.
An Agreement to Cancel Lease should include details such as the rental propertys address, the landlord and tenants contact information, the end date of the original lease, the new lease termination date, and when both parties will sign the cancellation agreement.
Canceling a lease is the legal termination of a contract between the tenant and the landlord. It is as straightforward as it sounds if both parties agree to end the contract.
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If you have one lease agreement, then one person giving notice ends the agreement for both. In that case, the remaining tenant would need to sign a new agreement with the landlord individually (assuming they still qualify) or with a new co-tenant. There are no fees to the existing tenant.
Tenant may, upon 30 days written notice to Landlord, terminate this lease provided that the Tenant pays a termination charge equal to 2 months rent or the maximum allowable by law, whichever is less. Termination will be effective as of the last day of the calendar month following the end of the 30 day notice period.

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