Tenants and landlords have good intentions when a lease agreement is made between the two. After all, it is a good business deal for landlords to earn money while someone else is occupying and taking care of their property while the tenant has a temporary home they can stay. However, some drastic situations happen that may force either or both the tenant and landlord to terminate the lease before it expired. Eviction may be one thing to pop in mind, but it only happens as a last resort. A surrender agreement is made to help the tenant and landlord deal with the termination of the lease by returning the property to the landlord while protecting both parties from any liabilities regarding the balance of the lease contract terms. If you’re a landlord reading this and you’re about to write a surrender agreement, you’re in luck as this article will teach you how to create a tenant surrender agreement.
10+ Tenant Surrender Agreement Samples
1. Tenant Surrender Agreement Template
2. Tenant Lease Surrender Agreement
3. Tenant Landlord Surrender Agreement
4. Tenant Deed Surrender Agreement
5. Tenant Surrender Mutual Agreement
6. Sample Tenant Surrender Agreement
7. Standard Tenant Surrender Agreement
8. Basic Tenant Surrender Agreement
9. Professional Tenant Surrender Agreement
10. Tenant Cancellation Surrender Agreement
11. Tenant Voluntary Surrender Agreement
What is a Tenant Surrender Agreement?
A tenant surrender agreement is a formal written agreement by both the tenant and the landlord to end the lease and has the tenant surrender the property back to the landlord. It dissolves all obligations of both tenant and landlord of the tenancy. Some surrender agreement has stipulations that the property must be in good condition or the same condition as it was during the start of the lease.
Tenants should also be aware of the termination clause in their lease contract to know whether they are required to fulfill the lease or if the landlord agrees to surrender the property before the lease ends.
Details to Include in Tenant Surrender Agreement
- Date of when the agreement is made
- Names of both the landlord and the tenant
- A complete description of the occupied or leased property
- Financial terms required by both or either of the parties upon surrender
- Tenant’s statement. The statement should include a description regarding absolving any obligations any of the parties need to make during the lease agreement
- Release date and time that the property will be officially returned to the landlord
- Description of the property’s condition upon return
- Terms and conditions if the tenant may not be able to vacate the property on the agreed date
- Signature lines where both parties sign their names and include the date which will signify that the agreement is made and the surrender officially commences.
- Forwarding address of the tenant and their contact number
FAQs
What are the reasons for tenants to surrender their lease?
For tenants, there are several reasons why they want to end their lease earlier than they anticipated. Here are some common reasons why tenants break off their lease prematurely:
- Job loss (they could no longer afford to pay the lease).
- Unexpected loss or addition in their family (divorce or remarriage).
- Transfer to a new location due to job transfer.
- Conditions around the surroundings that they found unpleasant right after they moved in.
What are the reasons for landlords to make a tenant surrender agreement?
Unfortunately for tenants, sometimes landlords have to bring the bad news and ask their tenants to surrender the property and break off the lease before they could complete it. There are several factors why this situation would happen. Below are some examples:
- The rental market in the area exploded and some landlord takes advantage of this situation and would want to move the current tenants out so they can rent the property at a higher amount compared to the current rate.
- If some tenants are a nuisance to their neighbors, they will be asked to move out to restore the peace and safety of the property.
- The property needs total repair or renovation.
- Non-payment of rent.
- Lease violations that the landlord caught the tenants doing that result in a breach of the lease.
Does a deed of surrender need to be registered?
If the lease is registered at the Land Registry and if the lease is noted against the landlord’s title, the deed of surrender needs to be registered as well.
Once you’re done drafting the agreement, make sure to review it first and check to see if there are any errors or inaccurate information that was accidentally included. Discuss the agreement first with your tenant before you hurry them up to sign it. They should understand the grounds of the surrender agreement and welcome any concerns they will raise to you. Make sure that when you both sign the agreement, none of you have ill will against each other and nobody has signed the contract against their will. To help you get started making the contract, download our free sample templates above to use as your guide!
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