To terminate a lease agreement before the established end date, you must be aware of certain deadlines, especially those for communicating your intention to terminate.
There are two basic rules for terminating a contract:
- Written notice by registered letter (see the point below for more details about the letter);
- Sending advance notice of termination of the contract in accordance with the legal deadline.
What are valid reasons for terminating a lease agreement?
On the tenant's side, there is not necessarily a list of reasons that need to be listed to justify a letter of termination of the agreement. It is sufficient to comply with the deadline established by law to terminate the agreement correctly.
On the other hand, there are rules for justifying a termination letter on the landlord's side. Currently, there are three valid reasons for a property owner to terminate a contract:
- Need for the property for their own residence or for a first-degree descendant (children);
- Need for structural restoration work that requires the property to be vacated, or that is equivalent to at least 25% of the value of the property, or that serves to prevent future demolition of the property;
- Rent payments in arrears, exceeding three months (letter to initiate eviction proceedings).
How far in advance should I send the contract termination notice?
The deadlines for submitting a contract termination notice vary depending on the type of contract established, namely the stipulated duration.
For tenants:
- 1/3 of the initial duration specified in the contract – contracts with a duration of less than six months;
- 60 days (2 months) – contracts with a duration of six months or more and less than one year;
- 90 days (3 months) – contracts with a duration of one year or more and less than 6 years;
- 120 days (4 months) – contracts with a duration of 6 years or more
For landlords, the deadlines are:
- 1/3 of the initial term specified in the contract – contracts with a duration of less than six months;
- 60 days (2 months) – contracts with a duration of six months or more and less than one year;
- 120 days (4 months) – contracts with a duration of one year or more and less than six years;
- 240 days (8 months) – contracts with a duration of more than six years.
Source: Idealista/News