Rental right is complex and a rental agreement can only be terminated for certain reasons. At the end of a rental period, this involves, among other things, personal occupation when the owners move in; the owner sells and the buyers move in; or the owner plans for larger repairs. Even then, the duration of the lease, a reasonable period of notice and the correct form and notification of termination are essential elements of a regular transaction. For example, an owner can only resign on behalf of a buyer if there are no more than three units in the building or if the property is a condo. If the owner wishes to reside in the unit himself, there is no similar restriction with regard to the number of units in the building. Both parties must comply with the terms of the lease and the law. “Landlords should inform their tenants that the buyers will be the new owners, who in turn can resign if they want to live there themselves,” Bloom says. “Some tenants choose to leave earlier than later, and that`s okay, as long as the landlord agrees, but neither the seller nor the buyer can force them to leave until the term of the lease expires.” “Some sellers make the mistake of ignoring the problem of empty property,” Bloom says. “It`s in a pre-printed clause, so they embellish it without realizing that they have to end that clause of the agreement if the tenant stays.” If a property houses a tenant who will remain, the corresponding clauses must be inserted in the GSP in order to put an end to the empty property, because the property is not actually evacuated.
If the freedom of ownership is not given to the buyer at the time of conclusion, the GSP must specify this. Since the buyer takes over the lease and becomes the owner, all these aspects must be covered in the GSP. Lease Delivery – If tenants request to terminate their contract before the end of the period indicated, APS will discuss the request with the landlord(s). If the agreement is given, the tenants undertake to pay the rent in full until the expiry of the contract or the appropriate replacement, the rental is assigned and the original tenant is then exempted from his obligations.. . . .