A lease is a legally binding commitment for a certain number of years and usually that term must run its course. However, circumstances can change throughout the term of the lease both for better and worse and there are mechanisms available to bring the lease to an end.
The most common way is to 'sell on' the lease to someone else. This will involve finding a 'buyer' and will be subject to your obtaining consent from your landlord who will usually want to check the new tenant's references and financial standing.
It is also possible to exercise what is known as a break clause subject to providing written notice and usually conditional on all the sums due under the lease having been paid up to date. This must be negotiated before the lease is entered to and included in the terms of the lease.
The other option is to agree a surrender of the lease with the landlord but be aware that the landlord might want a payment from you to agree this.
Our experts are here to help with all your needs either prior to the lease being entered into, during the lease or at the end of the lease.
06 Dec 2017
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