Pre-termination of Lease Contract Philippines Sample: Understanding Your Rights and Obligations
A lease agreement is a legally binding document that outlines the terms and conditions between a landlord and a tenant. However, circumstances may arise that can cause either party to terminate the lease contract prematurely. In the Philippines, pre-termination of lease contract is governed by the Civil Code and the Rental Law.
If you find yourself in a situation where you need to terminate your lease agreement before it expires, it is important to understand your rights and obligations. Here`s a sample pre-termination letter you can use as a guide and a rundown of what you need to know.
Sample Pre-Termination Letter
[Your Name]
[Your Address]
[City, Province, Zip Code]
[Date]
[Landlord`s Name]
[Landlord`s Address]
[City, Province, Zip Code]
Dear [Landlord`s Name],
I am writing to inform you that I wish to terminate our lease agreement for the property located at [Address of the Property]. The original lease agreement is set to expire on [Date] but due to unforeseen circumstances, I must vacate the property earlier than expected.
I understand that I am obligated to provide you with [number of days/weeks] advance notice as per our lease agreement. Therefore, I am giving you [number of days/weeks] notice of my intention to vacate the property on [Date of Termination].
I would like to request a walkthrough of the property before I vacate it to ensure that all requirements and obligations set forth in the lease agreement have been fulfilled.
I also wish to inform you that I will be able to settle any outstanding rental fees, utilities, and damages before my move-out date.
Please let me know if there is any further action required on my part and your preferred process for the return of the security deposit.
Thank you for your understanding and cooperation.
Sincerely,
[Your Name]
What You Need to Know About Pre-Termination of Lease Contract in the Philippines
1. Advance notice: In the Philippines, tenants are required to provide landlords with advance notice of their intention to terminate the lease agreement. The standard notice period is 30 days, but this can vary depending on what is stipulated in the lease agreement.
2. Payment of fees: The tenant must settle any outstanding rental fees, utilities, and damages before vacating the property. Failure to do so may result in the landlord withholding the security deposit.
3. Property inspection: Landlords have the right to inspect the property before the tenant vacates it. This is to ensure that all the terms and conditions of the lease agreement have been fulfilled.
4. Security deposit: The security deposit is intended to cover any damages incurred during the tenant`s stay. If there are no damages, the tenant is entitled to the refund of the security deposit. However, if there are any outstanding fees or damages, the landlord has the right to withhold a portion or the entire security deposit.
In conclusion, pre-termination of lease contract in the Philippines requires an understanding of the tenant`s rights and obligations. By providing advance notice, settling outstanding fees, fulfilling lease obligations, and allowing for a property inspection, tenants can ensure a smooth and hassle-free move-out process.