ending contract early - rent

totallybroke_2

Hi, I signed a new contract in october 11 for 18 months. Would I be penalised if I wanted to end it now? Its private rent.
Thanks

agrinnall

If there is no break clause in the contract then you have committed to pay the rent until April 2013. If you want to leave earlier you will need to negotiate with the landlord - if they are prepared to let you leave early (and they may not be, given that they've got you locked in for another year) expect to have to pay all their costs associated with finding a new tenant.

G_M

Signing an 18 month contract gives you security. You know you cannot be made to leave for 18 months - you have a home you can enjoy uninterrupted.

Equally the landlord has the security of knowing he is guaranteed rental income for 18 months. He will not have the cost and hassle of finding a new tenant, nor the lost rent during the void between tenants.e

The downside, for each of you, is the lack of flexibility. The LL cannot change his mind and move back into his property, and if he decides to sell he has to do so with a tenant in place.

And you cannot change your mind and move elsewhere either.

Unless there is a break clause (after 6 months perhaps? or a year?).

Or unless you reach a new agreement with the landlord about ending the tenancy early.