If you`re a landlord or property manager, there may come a time when you need to terminate a lease agreement with a tenant. Perhaps they`ve violated the terms of the lease, or maybe you need to sell the property. Whatever the reason, it`s important to have a clear, legally binding termination agreement in place so that both parties are protected.

To help you with this process, we`re sharing a free template for termination of lease agreement that you can use as a starting point. Keep in mind that this template should be customized to fit your specific situation and local laws.

Free Template for Termination of Lease Agreement:

[Your Company Name] and [Tenant Name] entered into a lease agreement on [Lease Start Date] for the property located at [Property Address]. The lease agreement was for a term of [Lease Term], which began on [Lease Start Date] and was set to end on [Lease End Date].

Whereas, the parties now desire to terminate the lease agreement in accordance with the terms set forth below.

1. Termination Date

The lease agreement will be terminated on [Termination Date].

2. Vacating the Property

The tenant agrees to vacate the property by [Vacation Date]. The tenant shall return all keys, remote controls, and other items used to access or control the property to the landlord or landlord`s agent on the day of vacating.

3. Condition of the Property

The tenant agrees to leave the property in the same condition as when they first took occupancy, normal wear and tear excepted.

4. Security Deposit

The landlord will refund the tenant`s full security deposit of [Security Deposit Amount] within [Number of Days] days of the tenant vacating the property.

5. Final Rent Payment

The tenant agrees to pay the final month`s rent in full, prorated to [Termination Date]. The landlord will provide an itemized statement of any deductions from the security deposit, and the tenant will be responsible for any remaining balance.

6. Indemnification

The tenant agrees to indemnify and hold the landlord harmless from any claims, damages, or liability arising from the tenant`s use or occupancy of the property.

7. Governing Law

This agreement will be governed by and construed in accordance with the laws of the State of [Governing Law].

8. Entire Agreement

This agreement constitutes the entire understanding between the parties and supersedes all prior or contemporaneous negotiations or understandings, whether written or oral.

9. Execution

This agreement may be executed in one or more counterparts, each of which will be deemed an original, but all of which together shall constitute one and the same instrument.

In Witness Whereof, the parties have executed this agreement as of the date first above written.

[Your Company Name], [Signature and Printed Name of Landlord or Authorized Agent]

[Tenant Name], [Signature and Printed Name of Tenant]

With this template, you can easily create a clear and legally binding termination agreement. However, it`s important to keep in mind that local laws and regulations may vary, so be sure to consult with a legal professional before finalizing any agreements.

By having a solid termination agreement in place, you and your tenants can rest assured that both parties are protected and can move on from the situation with a clear understanding of their responsibilities.