LPA Update - Easter Special

Dear Fellow Landlord,

Happy Easter to all who celebrate! Wishing everyone a happy healthy day!!
John Nuzzolese

In this newsletter:

• Wise Words From My Landlord Mentor...
  
• Early Lease Termination Amendment (FREE this week only)
• Happy Easter!
  

Please e-mail us if you have any questions or would like to add or share any material / information. Have a great month!
John Nuzzolese
John@theLPA.com

I am sometimes asked why I do not have an "Early Termination Clause" in my lease. The reason is that the lease is written with the expectation that the tenant will honor it until the expiration of the contract. In the even the tenant violates the contract and moves out early, the lease is stronger for landlord remedies without volunteering an Early Termination clause, which is actually telling the tenant from the onset, "It's OK to break the lease if you need to. We have an Early Termination option." I prefer not to offer the option to break our lease. If the tenant needs to break the lease in order to relocate, the landlord has more protection of getting paid until re-rental if there is No Early Termination Clause.

Fact: Not all leases end in eviction. Sometimes landlords and tenants actually part ways under amicable, even friendly circumstances! The tenants may have purchased their own home or perhaps the landlord wishes the tenants to move for various reasons. In any event, this form provides the landlord with a measure of protection when ending the lease early.

The Early Lease Termination Amendment allows the landlord and tenant to agree to end their lease term early at the landlord's option.

1. The Early Lease Termination Amendment amends the lease ending date to be a new date the landlord and tenants agree to change it to, while it continues to bind the tenants to the responsibilities and rules stated in the original lease agreement.
2. The Early Lease Termination Amendment helps to guarantee the tenant leaves on the date agreed by providing for a holdover penalty for each day the tenant stays after the agreed move-out date.
3. It also provides for an optional Early Lease Termination penalty fee.

2016 Easter Special
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