Dubm question - can our tenant give notice before annual lease is up?

[surfermoe]

Hi folks,

We have a tenant who wants to break their annual lease, which ends on August 31st, 2010. They have given us two months` notice.

I feel dumb asking this, but here goes anyway: are we (legally) able to tell them that they signed a one-year lease, and that they have to find a sub-letter if they want to leave? Or do we just have to let them go?

Here is what is written in our lease:

<h2 style="margin: 0cm 0cm 6pt 36pt; text-indent: -36pt;"></h2>QUOTE Notice of Intention to Vacate

The Tenant shall provide the Landlord with at least 60 days written notice of his intention to vacate at the end of the current term of the Lease. The Notice shall be effective on the last day of a month. Once such notice has been given, the Tenant shall permit the Landlord and/or the Landlord’s agents access to the Leased Premises to show it to prospective tenants or purchasers upon reasonable notice to the Tenant. When vacating the Leased Premises, the Tenant shall leave the premises and all fixtures, chattels and appliances belonging to the Landlord in a clean and good condition, consistent with its age and use.

Thanks for your help,

Moe

P.S. The property is in Ontario.

 

[surfermoe]

Think I just found the answer to my own question. From the Landlord and Tenant Board website:Tenant Wants to Move Before the End of the Tenancy

Ending a tenancy agreement early
In most cases, if a tenant has a tenancy agreement or lease in which they agreed to rent the unit for a specific period of time, the tenant cannot break the agreement before it ends, unless:

• the landlord agrees,
• the landlord allows the tenant to assign the rental unit to someone else, orthe Board issues an order ending the tenancy agreement early because the landlord has not met their obligations under the Act.

http://www.ltb.gov.on.ca/en/Key_Informatio...L02_111482.html

Moe

 

[Nir]

on the other hand if the tenant wants to leave early, then depending on the circumstance it may be beneficial for you too if he just leaves.
plus, since he gave you 60 days, if it`s an ok location, it should not be difficult to find another tenant on time (meaning without losing rent) - someone who wants to live there and will keep the place this way for you.

 

[invst4profit]

You are probably better off finding a new tenant yourself but make sure you inform your tenant if you do not find a new tenant they are obligated to pay to the end of the lease or until a new tenant is found. I suggest you do not apply there last months rent to the final month until you actually have a new tenant chosen. Tell them to keep paying and you will apply or refund the last month when you have a new renter. If they refuse to pay and insist you apply there last month rent take them to the board for none payment.
This method will assist in insuring you have an additional month of income.

 

[housingrental]

To add to Greg`s post:
In order to collect additional rent from them you need to try and mitigate damages
So start trying to immediately re-rent the unit. Post ads. Keep detailed logs of ads / contacts / viewings etc.
If it rents out on time problem solved
If not there responsible for rent until it does
Let them know this
I`ve posted on this in more detailed in the past. Do a search on forums if more info needed
If rented month after tenant moves out, and tenant hasn`t paid, go to small claims court with proof of trying to mitigate damages for lost month of rent, etc.

 

[surfermoe]

Thanks to you all for the good advice. We`ll find another tenant for this unit, and will inform the current tenants that they`re responsible for the remainder of the lease term.

Moe