Hi, I let my property to two individuals, for an initial term of 1 year, one of them wants to terminate it at 10 months. The other one wants to stay and cannot pay the full rent. I have asked them to find a replacement if possible. What are my options here ? If I do find a new tenant would I need to draft a whole new contract ?
@Bala2 to quote citizens advice
1. During a Fixed Term (e.g., a 12-month contract)
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Both Must Agree: Generally, all joint tenants must agree to end the tenancy early.
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Break Clause: If you have a break clause, it usually requires all tenants to agree to use it to end the tenancy, unless the agreement specifically states otherwise.
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One Tenant Wants to Leave: If one person wants to leave during the fixed term, they cannot simply serve notice. They must ask the landlord to end the tenancy early or ask for a replacement tenant, which requires the landlord’s consent
However from 1 may, fixed terms are no more due to RRA and it becomes a periodic tenancy
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2. After the Fixed Term (Periodic/Rolling Tenancy)
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One Can Give Notice: Once the fixed term ends and the tenancy becomes periodic (e.g., rolling month-to-month), any one of the tenants can serve notice on their own to end the tenancy for everyone, even if the other tenant does not want to leave.
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Notice to Quit: A valid “notice to quit” from one tenant automatically ends the tenancy for all.
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- If you get a replacement tenant you will still need to reference them. And sort out any issues returning deposit.
Best