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#11
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| ya, typo i meant landlord in the 2nd sentence. the law has been changed last 1 year or so, the option to terminate is mutual. so if the tenant wants the option they have to give the landlord the option as well, so its mutual choice. of cos if u are paying alot of money u can always negotiate for just a one sided option, just that its not the norm now. |
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#12
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| No, that is incorrect. There is no basis in legislation for the right to terminate early being mutual or only granted to one party, rather it is a result of market practice. Both type of options have always been feasible legally have and been in use, it is just that the landlord's termination option has been rare (although there occurrence has been increasing slightly over the last few years, possibly due to the depressed housing market post-SARS etc.) as few tenants have been willing to accept such a clause (for exactly the reason I stated above - who would want to take the risk of having to move out of their home on relatively short notice). On the other hand early termination options to the tenant are very common - every single lease that I have signed (with monthly rents from $2,000 upward) has had this option. |
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#13
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| fair. so what happen probably was with the volatility in rental the landlords are reluctant to give the free option without something in return... hmmm so all in all depends on how u negotiate. if u want a very good price then probably u'd have difficulty getting the free termination option. Last edited by freeier; 15-06-2006 at 08:43 AM. Reason: better reflection |
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