A resi lease has a special condition in it, which states the following
* 5% of the annual rent is to be paid by the Agent if there is a lease break.
This for clarity, is separate to the letting fees, advertising costs and obvious responsibility for paying rent until a new tenant is found. It seems as if this is some kind of early lease termination penalty?
In this case, my friend has already signed the lease and after 7 months of the 12 month lease is breaking it. Has anyone else came acoss this? I have never heard of it in my time as a renter and have never seen it in the lease agreements with my tenants.
* 5% of the annual rent is to be paid by the Agent if there is a lease break.
This for clarity, is separate to the letting fees, advertising costs and obvious responsibility for paying rent until a new tenant is found. It seems as if this is some kind of early lease termination penalty?
In this case, my friend has already signed the lease and after 7 months of the 12 month lease is breaking it. Has anyone else came acoss this? I have never heard of it in my time as a renter and have never seen it in the lease agreements with my tenants.