ending month to month tenancy agreement

[nav1940]

My tenants have a month to month lease with me and they would like to end the agreement. My lease agreement states 60 day notice is required however, the tenant is only willing to give 30 day notice and wants to how much penalty will be charged for not giving 60 days notice.
I am sure what the law allows me to charge. I`m looking for advise and suggestions.

thanks
concerned Landord

 

[RCC]

QUOTE (nav1940 @ Jan 30 2008, 06:33 PM) My tenants have a month to month lease with me and they would like to end the agreement. My lease agreement states 60 day notice is required however, the tenant is only willing to give 30 day notice and wants to how much penalty will be charged for not giving 60 days notice.
I am sure what the law allows me to charge. I`m looking for advise and suggestions.

thanks
concerned Landord

If your contract calls for 60 days notice and only 30 days notice is provided, in lieu of the 30 day notice shortfall, 30 days rent should be paid in lieu of notice. This equalizes for the the rent that he would have paid if he had given 60 days notice. You can reduce this payment if you are able to rent the property quickly and not suffer any rental losses due to vacancy.

 

[GarthChapman]

If the property is in Alberta the Tenant only is required to give you 30 days notice, and that regulation over-rides your lease agreement.