Hi guys just want to find out, what happens in the event of early rental termination?
Does the landlord forfeit the security deposit/security +utility deposit? Is it common for the landlord to claim for the rent for the unexpired period?
Thanks
Hi guys just want to find out, what happens in the event of early rental termination?
Does the landlord forfeit the security deposit/security +utility deposit? Is it common for the landlord to claim for the rent for the unexpired period?
Thanks
You might need to refer back to the Tenancy Agreement. It normally will spell out very clearly on early termination scenarios. I believe in most cases, Landlord would accept the forfeiture of security deposits. Again, Tenant has to notify Landlord few months in advance in writing, how many months would depend also on what's stated in Tenancy Agreement when it was agreed between both parties.
agreed with what kevin said.
Ya, Have to refer to the tenancy agreement you/ your agent have made. Normally early termination will caused the forfeit of deposits. Unless the tenant tell beforehand.
owner usually will forfeit the deposit, as per tenancy.
but tenant will try to delay rental for 1 month or 2 month, then say want to move out already. some worth even do not return the key.
@6011_3531_5354
Also in many cases... tenant will offset final month rental using deposit. I believe they do this after a delay in paying rental when they plan to move out soon.
Thanks! In Malaysia what is the standard practice?
Owner forfeit 2 months security deposit or claim or unexpired period?
@ShiyanLim
If Tenant move out in short notice. Sure owner will forfeit all deposit. Usually deposit is 2 months rental.
@ShiyanLim Ya, normally will forfeit all deposit, which is 2 months rental but still depends on Tenancy agreement.
@windzneom
That is why. The initial tenancy agreement must be able to protect both parties... not only single sided to tenant or owner.
If can always ask for draft before signing it.
@kevinteh
Yes use a draft. Normally owners cannot deviate too much from the draft agreement. Some agents will try to "intimidate" owners, by highlighting if you make the agreement to side with owner too much, tenants may just rent from other owners. :^0
@ShiyanLim thanks for sharing
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