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TOPIC: Early termination by tenant

Early termination by tenant 1 year, 7 months ago #18610

  • hylim007
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Would like to ask, if tenant terminates before the expiry but gave notices, do we still forfeit the deposit as per tenancy agreement?
Also, since I also sold the property at the same time, can the new owner rent it to someone else before I get the full drawdown from his financier?

Appreciate feedbacks here, tks

Re:Early termination by tenant 1 year, 7 months ago #18616

Yes, you have the right to forfeit the 2 months deposit.

Re:Early termination by tenant 1 year, 7 months ago #18617

The stern rule is to forfeit the 2 months deposit. Ask any agent and they will tell you that. But it's tough for us when we are in the actual situation. My tenant bailed out after only renting for 2 months and he knew it's his fault. But he kept calling and begged us to understand his 'financial' situation.

So after a discussion, we agreed on both taking a step back, so 1 mth deposit forfeit. I believe it's really up to you, whether you are willing to offer 'goodwill' relation with your tenants and come to a mutual conclusion.

Re:Early termination by tenant 1 year, 7 months ago #18618

  • hylim007
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Tks for the advice Ivan . Hope my heart can be hard like a steel when the actual day comes

Re:Early termination by tenant 1 year, 7 months ago #18619

  • hylim007
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Tks Vince

Re:Early termination by tenant 1 year, 7 months ago #18699

Comment on the 2nd part of the question.

Prior to full drawndown the keys are not supposed to be passed to the purchaser.

Hence, the issue of the new purchaser taking rent from the occupying tenants should
not be a matter until full completion of sale, ie. by end of 3 -4 months.
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