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Question on lease

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  • 04-01-2012 6:15pm
    #1
    pancakebatter
    Registered Users Posts: 5 ✭


    Hey,
    I want to rent an apartment in Cork. However, I am not sure if I would be staying one year, and most places do have minimum one year requirements.

    What would happen if I decide to move out after say 7 months? Would they just take the deposit or could I be made pay the additional 4-5 months? I suppose it depends on the lease as well, but does anyone know what the usual way is? I know it's mostly agencies advertising on Daft, for example, so I'm suspecting they'd lean towards the second option...

    Or do they usually have some sort of notice clause?


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    #2
    odds_on
    Closed Accounts Posts: 1,869 ✭✭✭odds_on


    For a landlord, a fixed term lease usually means that he has a stated income for the period of the lease (as you say, usually 1 year). Thus he doesn't have to worry about re-letting costs for 12 months.

    For the tenant, a fixed term lease makes his home secure for the length of the term. But as you are thinking, it is also difficult to get out of.

    If you want to leave from a fixed term agreement, you can assign the lease to another person (acceptable to the landlord). It is your duty to find the "assignee" who will take over the lease completely and relinquish you from any further payments etc. If you fail to find an assignee, the landlord may charge you for his reasonable costs for re-letting and you would be liable for the rent until the property is re-let. Thus you are liable to lose all your deposit.

    To keep you deposit:
    You could also ask for a Part 4 lease in which case you can leave at any time by giving written notice in the required manner (sample on the PRTB site), notice period probably 28 days).
    You could also ask for a break clause but you would have to be careful as to how this is worded for your benefit.

    Well done for thinking about the future while renting accommodation.


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