We understand that circumstances can change, and that as a result, you may need to leave your contract. Whilst the tenancy agreement is legally binding and you are liable to pay your rent throughout the contractual term, there may be a way for you to terminate your contract early under certain circumstances.
Finding a Replacement
If you are a student, you will need to find a suitable replacement who is willing to match the exact terms of your agreement. This may not be possible if there is less than six months remaining on your contract. For professionals, you will also need to find a suitable replacement who is willing to match the terms set out by the Landlord. This may include an increase in rent, and is likely to be for a new minimum contractual term of six months.
If a suitable replacement is found, you’ll be charged an admin fee that covers the work required to process and organise the change.
It is important for all our tenants to understand that tenancy agreements are legally binding for the entire contractual term. Tenants will be liable for all rent unless the Landlord agrees to terminating the contract and all relevant fees are paid.
How to Find a Replacement
If you are an individual looking to remove yourself from a joint tenancy agreement, there are a number of ways you can advertise. These include:
- Easy room mate;
- Find a flat mate;
- University accommodation services; and
- Facebook and/or Twitter.
The new tenant must be suitable and agreeable to all remaining tenants. Once this is established, a new contract must be signed.
If you are a student or professional looking to re-advertise the whole property, this can be arranged for an additional fee. It is important for students to be aware that the likelihood of finding new tenants may decrease the further you get through the academic year. The same can be said for professionals looking to terminate their contracts over the Christmas period.