Assignment of leases

Looking to leave your lease early? A lease is a contract between a landlord and a tenant or tenants that sets out the rules both parties will follow. Leases usually include terms from the Residential Tenancies Act.

Assignment of leases

Often, the original tenant expects to move back into the unit. For example, students commonly sublet their rental units for the summer from May to August with plans to return in September.

The original tenant is still legally responsible for all of the obligations under the lease and under the Residential Tenancies Act. For example, if the new tenant fails to pay rent, the landlord can collect unpaid rent from the original tenant. The new tenant who sublets is also responsible for the obligations of the lease.

The landlord can only refuse to consent to the sublet if there are reasonable grounds to refuse. For example, if the prospective tenant does not pass a credit check, the landlord may refuse to sublet. If the landlord does not respond to a request to sublet within 14 days, the law says the tenant can assume the landlord consents to the request.

The new tenant can either pay rent to the original tenant or, if the landlord consents, pay the landlord directly. Assignment Assignment is when a tenant finds someone to take over his or her lease agreement. It is a good option if a tenant does not plan on returning to the property.

If a tenant finds someone who wants to take over the lease agreement, the tenant must get written permission from the landlord to assign the lease. If the landlord refuses the request, written reasons for the refusal must be provided to the tenant.

A landlord must respond to the request to assign within 14 days. A release is a new agreement that discharges the tenant from all of his or her obligations to the landlord. The benefit of assignment is that the tenant is no longer responsible for anything to do with the rental unit once the lease has been assigned and a release has been signed.The following outline contains a brief look at aspects of the law of leases.

It deals only with common law rules relating to the creation and assignment of leases. Simmonds Real Estate County Property Management Provides Professional Property Management In The Schertz, Cibolo, San Antonio, New Braunfels, Garden Ridge Page.

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Assignment of leases

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Assignment of leases

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