Oct 21 2019, 12:16 PM
QUOTE(hamswat @ Oct 20 2019, 01:59 PM)
Update guys, according to the tenancy agrement, this is what is stated for 'early termination'
In the event of the tenant / landlord terminate the tenancy, the defaulting party shall be liable to pay the liquidated damages / compensation which is equivalent to the amount of Rental payable for the remainder of the term and shall on demand be payable forthwith to the non-defaulting party and recoverable as a debt due to the non-defaulting party accordingly.
Yes there is usually 2 types of early termination clause: 1st is basicially forfeit deposit, 30days notice, and okay settle. Another is basically you have to pay the remainder of the term or pay until the landlord is able to find a new tenant. unfortunately yours is the latter. in this case you're contractually obligated to stay until end of tenure.In the event of the tenant / landlord terminate the tenancy, the defaulting party shall be liable to pay the liquidated damages / compensation which is equivalent to the amount of Rental payable for the remainder of the term and shall on demand be payable forthwith to the non-defaulting party and recoverable as a debt due to the non-defaulting party accordingly.
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