The interim contract termination refers to the dissolution of the tenancy in between those 12 months which can be due to a number of reasons.
Most commonly to secure the cash flow of landlords and ensure the commitment of the tenants the interim contract termination clause comprise of 1, 2 or 3 months of additional rent which the tenant has to pay after vacating the property. The notice period of interim termination can vary, however on the basis of the reasons for termination, the landlords can decide to reduce the penalty, if they wish to do so.
Due to the recent Covid-19 pandemic, local authorities have urged both landlords and tenants to come to a consensus related to changes in the terms of the existing tenancy contract, which gives a relief to those tenants who have been hit badly by the pandemic.
Normally, it is possible to terminate a tenancy contract by approaching your brokerage or landlord. And once the contract termination terms are agreed upon, the final bill from DEWA and Ejari cancellations need to be processed by the tenant immediately.
For more information about interim contract terminations, please feel free to contact Homes 4 Life.