Endoflease

End of lease refers to the point at which a lease agreement expires or is terminated, and occupant rights to the property end. It can occur when a fixed-term lease reaches its stated end date, when a party exercises an early termination clause, or when both landlord and tenant agree to end the lease before or on the term’s end. In residential and commercial settings, the end of lease marks the transition from occupancy to vacating the premises, unless the lease is renewed or converted to a different tenancy arrangement.

Before the end date, tenants and landlords commonly negotiate or confirm renewal terms. Written notice is typically required to terminate or extend a lease; the notice period varies by jurisdiction and lease terms. Upon surrender, tenants are generally expected to vacate, remove personal belongings, return keys, and leave the unit in clean, repair condition beyond normal wear and tear. A move-out inspection may be conducted to assess damages and determine any charges against the security deposit.

Financial aspects include prorated rent, final charges for any damages, cleaning, or unpaid amounts, and the return of the security deposit within a statutory period after move-out. If the tenant remains in the property beyond the end date without an agreed extension, a holdover tenancy may arise, potentially with higher rents or eviction proceedings.

Renewal and extension options vary: landlords may allow a renewal with revised terms, offer a month-to-month hold, or require a new lease. Failure to vacate on the agreed date can lead to eviction or other legal actions, depending on local laws and the lease agreement.

End of lease procedures are governed by contract law and landlord-tenant statutes that differ by jurisdiction. Always review the lease for its specific end-of-term provisions and seek legal guidance if needed.