Lease Termination Agreement Template: End & Release Terms

Lease Termination Agreement Template

This Lease Termination Agreement (“Agreement”) is made as of [Date of Agreement] between:

Landlord

Name: [Landlord Full Legal Name]

Address: [Landlord Mailing Address]

City, State/Province, ZIP/Postal Code, Country: [Landlord City, State/Province, ZIP/Postal Code, Country]

Phone: [Landlord Phone Number]

Email: [Landlord Email Address]

(“Landlord”)

and

Tenant

Name(s): [Tenant Full Legal Name(s)]

Address: [Tenant Current Mailing Address]

City, State/Province, ZIP/Postal Code, Country: [Tenant City, State/Province, ZIP/Postal Code, Country]

Phone: [Tenant Phone Number]

Email: [Tenant Email Address]

(“Tenant”).

Landlord and Tenant may be referred to individually as a “Party” and together as the “Parties”.

1. Property and Original Lease

1.1 Leased Premises. This Agreement relates to the following leased premises (“Premises”):

• Property Address: [Street Address]

• Unit / Suite (if applicable): [Unit or Suite Number]

• City, State/Province, ZIP/Postal Code, Country: [City, State/Province, ZIP/Postal Code, Country]

Property Address: [Street Address]

Unit / Suite (if applicable): [Unit or Suite Number]

City, State/Province, ZIP/Postal Code, Country: [City, State/Province, ZIP/Postal Code, Country]

1.2 Original Lease. Landlord and Tenant entered into a lease agreement for the Premises as follows (“Original Lease”):

• Lease Date: [Original Lease Date]

• Lease Type: [Residential Lease / Commercial Lease / Other]

• Original Lease Term: From [Original Start Date] to [Original End Date]

Lease Date: [Original Lease Date]

Lease Type: [Residential Lease / Commercial Lease / Other]

Original Lease Term: From [Original Start Date] to [Original End Date]

Except as specifically modified by this Agreement, the terms of the Original Lease remain in effect until the Termination Date defined below.

2. Termination Date and Possession

2.1 Termination Date. The Parties agree that the Original Lease will terminate on:

• Termination Date: [Termination Date]

From and after the Termination Date, Tenant shall have no further right to occupy or use the Premises, except as otherwise stated in this Agreement.

2.2 Vacating the Premises. Tenant agrees to fully vacate the Premises on or before the Termination Date, including:

• Removing all personal property;

• Returning all keys, access cards, fobs, and parking passes;

• Leaving the Premises in the condition described in Section 4.

Removing all personal property;

Returning all keys, access cards, fobs, and parking passes;

Leaving the Premises in the condition described in Section 4.

3. Rent and Other Payments

3.1 Rent Through Termination Date. Tenant shall remain responsible for rent and other recurring charges under the Original Lease up to and including the Termination Date, as follows:

• Monthly or periodic rent: [Currency and Amount] per [month / period]

• Prorated rent for partial period (if applicable): [Currency and Amount]

Monthly or periodic rent: [Currency and Amount] per [month / period]

Prorated rent for partial period (if applicable): [Currency and Amount]

3.2 Additional Sums Owed. As of the date of this Agreement, the Parties acknowledge the following amounts (complete as applicable):

• Unpaid rent up to [Date]: [Currency and Amount / “None”]

• Late fees: [Currency and Amount / “None”]

• Utilities or other charges owed to Landlord: [Currency and Amount / “None”]

Unpaid rent up to [Date]: [Currency and Amount / “None”]

Late fees: [Currency and Amount / “None”]

Utilities or other charges owed to Landlord: [Currency and Amount / “None”]

3.3 Settlement Amount. The Parties agree that the total amount Tenant must pay to Landlord in connection with this termination (including any unpaid sums listed above and any agreed early termination fee, if applicable) is:

• Total Settlement Amount: [Currency and Amount]

Tenant shall pay the Total Settlement Amount as follows:

• Payment method: [Payment Method]

• Payment due date(s): [Due Date(s)]

Payment method: [Payment Method]

Payment due date(s): [Due Date(s)]

3.4 Early Termination Fee (if any).

☐ Not applicable – no early termination fee is charged.

☐ Tenant shall pay an early termination fee in the amount of [Currency and Amount], which is included in the Total Settlement Amount.

4. Condition of Premises and Inspection

4.1 Condition at Move-Out. Tenant shall leave the Premises in a clean and orderly condition, free of Tenant’s personal property and trash, and in at least the condition required by the Original Lease, ordinary wear and tear excepted.

4.2 Move-Out Inspection. Landlord may conduct a move-out inspection on or after the Termination Date. Tenant may be allowed to be present at the inspection if required or permitted by applicable law and if scheduled in advance.

4.3 Repairs and Damage. Tenant is responsible for the cost of repairing any damage to the Premises beyond normal wear and tear, as determined in accordance with the Original Lease and applicable law.

5. Security Deposit

5.1 Existing Deposit. The Parties acknowledge that Tenant previously paid a security deposit in the amount of:

• Security Deposit Amount: [Currency and Amount]

5.2 Application and Return. After Tenant vacates and the move-out inspection is completed, Landlord may apply the Security Deposit in accordance with the Original Lease and applicable law to:

• Unpaid rent or other amounts due;

• Costs of repairing damage beyond normal wear and tear;

• Other lawful deductions.

Unpaid rent or other amounts due;

Costs of repairing damage beyond normal wear and tear;

Other lawful deductions.

Any remaining balance of the Security Deposit shall be returned to Tenant at:

• Refund Payee Name: [Tenant Name or Other Payee]

• Refund Mailing Address: [Address for Return of Deposit]

Refund Payee Name: [Tenant Name or Other Payee]

Refund Mailing Address: [Address for Return of Deposit]

within the time required by applicable law.

5.3 Itemized Statement. If required by law, Landlord shall provide Tenant with an itemized statement of any deductions taken from the Security Deposit.

6. Mutual Release of Claims (Optional)

6.1 Mutual Release. Except for obligations expressly stated to survive in this Agreement, and subject to Section 6.2, each Party releases the other Party and its respective agents, successors, and assigns from any and all claims, demands, and liabilities arising out of or related to the Original Lease and the tenancy at the Premises, whether known or unknown, through the Termination Date.

6.2 Excluded Claims. The mutual release above does not apply to:

• Claims relating to unpaid amounts that Tenant has expressly agreed to pay under this Agreement;

• Claims relating to damage to the Premises discovered during the move-out inspection and lawfully charged to Tenant;

• Claims that cannot be waived or released under applicable law.

Claims relating to unpaid amounts that Tenant has expressly agreed to pay under this Agreement;

Claims relating to damage to the Premises discovered during the move-out inspection and lawfully charged to Tenant;

Claims that cannot be waived or released under applicable law.

6.3 Optional Release Selection.

☐ The Parties agree to the mutual release in this Section 6.

☐ The Parties do not agree to a mutual release; instead, the Parties retain any rights and claims they may have under the Original Lease and applicable law, except as specifically modified by this Agreement.

7. Forwarding Address and Notices

7.1 Tenant Forwarding Address. Tenant provides the following forwarding address for any deposit refund, notices, or correspondence after the Termination Date:

• Forwarding Address: [Street Address]

• City, State/Province, ZIP/Postal Code, Country: [City, State/Province, ZIP/Postal Code, Country]

Forwarding Address: [Street Address]

7.2 Notices. Any formal notices under this Agreement may be delivered personally, by mail, or by other methods permitted by the Original Lease or applicable law, using the Parties’ contact details specified in this Agreement or updated in writing.

8. Representations and Acknowledgments

8.1 Authority. Each Party represents that they have the authority to enter into this Agreement and to bind themselves and, if applicable, their respective entities.

8.2 No Other Agreements. This Agreement, together with the Original Lease (as modified hereby), contains the entire understanding between the Parties concerning termination of the lease for the Premises. There are no oral or other written agreements regarding termination that are not included here.

8.3 Voluntary Agreement. Each Party acknowledges that:

• They have read and understood this Agreement;

• They have had the opportunity to ask questions and seek independent advice;

• They are entering into this Agreement voluntarily.

They have read and understood this Agreement;

They have had the opportunity to ask questions and seek independent advice;

They are entering into this Agreement voluntarily.

9. Governing Law

This Agreement is governed by the laws of [State/Province, Country], without regard to its conflict-of-law rules, and shall be interpreted in a manner consistent with applicable landlord–tenant or leasing laws in that jurisdiction.

10. Miscellaneous

10.1 Amendments. Any amendment or modification of this Agreement must be in writing and signed or clearly agreed by both Parties.

10.2 Severability. If any provision of this Agreement is found invalid or unenforceable, the remaining provisions shall remain in full force and effect.

10.3 Counterparts and Electronic Signatures. This Agreement may be signed in counterparts and by electronic signatures. Each counterpart is deemed an original, and all counterparts together form one instrument.

11. Signatures

By signing below, the Parties confirm that they agree to terminate the Original Lease on the terms set out in this Lease Termination Agreement.

Landlord

Signature: _______________________________

Printed Name: [Landlord Full Legal Name]

Title (if applicable): [Title]

Date: [Date]

Tenant

Signature: _______________________________

Printed Name: [Tenant Full Legal Name]

Date: [Date]

[Additional Tenant Signature Lines, if any]