RENT CONTRACT
HI,
We have a rent contract with our land lord for two years from jan ''09 to jan ''11,one year is already finished.we had already talked to the owner to decrease our rent due to this current recession but to no avail.
My question is,if in case we terminate our contract now/today do we have a violations or penalty committed under the latest rent law?please need your opinion and legal expertize.
Thanks to your prompt advices
U can check ur contract doc. wheather any clause regarding termination is mentioned...
If not then i think u should not be entitled to compensation arising due to termination.
Regards
Usually it is mentioned in the contract. Tenant can only break the contract and cheques are refunded\returned if he/she gets terminated from work and makes final departure. All terms and conditions basically are favoring the owner.
It depends on the termination clause of your contract.
I mean Jan 2011
If you have signed a contratc for two years than tough luck you have to abide by the Contract and wait till Jan 01 until you can re-negotiate the Contract.
Check What provisons you have for giving him notice if you have to vacate the house. There is nothing you can do, until the Contract expires.