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Help - Need to terminate lease early

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ORIGINAL POST
Posted by Tristenb 12 yrs ago
Hi all


My fiancee is expecting first child and the end result is that we are moving back to the UK.


We are currently 5 months in to our rental agreement (with a company), I have provided 2 months notice of our leave and forfeitted 2 months deposit, but they are holding firm and not willing to terminate the agreement. We have foudn someone who would go in for 6 months but they will not accept this.


I will not be able to afford this lease in any way back in the UK on top of renting there.


What can we do? I've tried to be as amicable as I can and find replacements, the property is in perfect condition but they won't budge. I would have hped under the circumstanced we coudl reach an agreement.


Any advice appreciated.


Many thanks

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COMMENTS
Tristenb 12 yrs ago
Thanks


They have even asked me today, if they find someone before I leave Hong Kong to replace me, whether I will still forfeit my 2 months deposit!


This is a worrying statement. I now have no confidence that they will even tell me if they find someone in the next 3 weeks and instead keep someone for 1 month and not return my deposit (and worse still say there is no one there and demand the money monthly).


What a company.

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sur501 12 yrs ago
Is your landlord an individual or a big company etc?

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HKLEV 12 yrs ago
Standard lease contracts in HK have a minimum duration, typically 12months. Neither party can terminate during this period, unless the other party is willing to change the terms of the contract. Highly likely in this case the landlord is actually within his rights.


The two month deposit is to compensate possible damage to the property. It is not an early termination penalty.


It should all be in your rental contract.

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Tristenb 12 yrs ago
Thanks for the replies.


I understand its a contract for a specific period. As I won't have the money and need to leave I just want to leave on settled terms. The landlord hasn't arranged for any viewings in 2 months and I feel they are content in leaving it and expe ring me to pay.


I guess I hoped they would do more to be helpful due to the circumstances but more fool me.



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HKLEV 12 yrs ago
the downside for the landlord is that he will need to pay the real estate agent a fee(half a months rent)and may not get the same rent from a new tenant, the tenant may not move in immediate

y, etc. If you have a standard lease, the minimum rental period is typically 12months plus 2 months notice period=14 months, over which the landlord would be expecting your rental payments.

you could try working back from the landlords situation to find something that makes financial sense to him or consider advertising a breaklease and see if the landlord will accept the new tenant.

obviously the situation is not good for either party, so one would hope the landlord will help find a solution.

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Tristenb 12 yrs ago
Yes I've offered to pa their half month Agency Fee so they do not incur a cost. I'm trying to be fair.


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JJChan 12 yrs ago
As hard as it is, the landlord is correct. I would come up with something better as a compromise if I were you and see if the landlord will accept. You are liable for a further nine months of rental. At the end of the day you signed the lease so you are responsible for the payment. Maybe offer the landlord four - six months rental and the agent's fee and you will contact agents to obtain a potential tenant. Perhaps you can work something out with the landlord that you will continue to pay rent until a suitable tenant moves in then payment will cease. I hope you can find a solution that works.







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associates 12 yrs ago
It depends on whether the lease contains an exit clause, if not, the landlord can sue the tenant for compensation for the rest of the term of the tenancy if the tenant is in breach of the tenancy. The landlord, however, has a duty to mitigate his loss and therefore, the replacement tenant is taken into account if it goes to the Court for determination of the dispute.


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nazish24 9 yrs ago
Hello everyone,

Due to some family reasons I need to leave HK with 5 months still remaining in the lease. I talked to the owner about it and he has offered me the following:

1) if they are able to find the tenant right after i break the lease then 1 months rent+ agent fees+ administration expenses

2) If they are not able to find the new tenant immediately I break my lease then 1.5 months rent + agent fees+ administration expenses

Any suggestions ideas if you see any scope of further cutting down/ negotiate on the total penalty I pay to the owner? Do you think the options he has given me are reasonable?

I know breaking the lease the owner has all the rights but I am doing this because of some big family requirement.

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OffThePeak 9 yrs ago
That's a decent starting point
Make a counteroffer

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Bensan 9 yrs ago
How is the landlord able to collect the remaining rent from the tenant if you leave the country? I'd understand it if the tenant has authorised automatic deductions from the tenant's bank account. How else is it possible? Are they going to chase you down abroad?? Don't think that's likely... Seems hard to collect for them, even if you remain in HK and change your address without them knowing.

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