Early termination penalty

[Juan M Restrepo]

Hi guys,

I have a rental property with a tenant who wants to break the lease early because they want to buy a home. The property management company who founded me the tenant provided me with a lease and I manage the property. I am trying to understand the early termination penalty.

This is what I get from it (please correct me if I am wrong):

1. A 60 day must be given.

2. The rent for the 2 coming months should be paid.

3. I am assuming the penalty of the 2 months worth of rent is to cover the 60 days for the termination notice.

4. Also another months rent for terminating the lease early.

5. For step 5 I am assuming all the money needs to be send the day of the notice of termination was given? This comes up to a total of 3 months rent when the termination notice is receive?

Hi guys,

I have a rental property with a tenant who wants to break the lease early because they want to buy a home. The property management company who founded me the tenant provided me with a lease and I manage the property. I am trying to understand the early termination penalty.