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Updated over 7 years ago,
Fee/penalty for terminating a lease
Hi BP Community.
I want to add a clause in my lease for allowing an early termination of the lease. I just acquired a property and one of the tenants moved out early. Should have been disclosed to us but that is a different story. I recall a 1-1/2 month fee of the monthly rent as a cost to terminate the lease early.
Example: Rent is $1000/month the fee to terminate would be $1500.
If any has used language can you please share with me.
Thanks.