Understanding Your Situation:
You share a condo tenancy agreement with your sibling, but you wish to terminate the lease and move out. Here's a breakdown of the situation and some options to consider.
Challenges of Terminating the Lease:
Joint Liability: Since you're both listed as occupants on the TA, you're jointly liable for the rent and fulfilling the lease term. This means your sibling can't unilaterally terminate the lease without the landlord's agreement.
Options to Explore:
Negotiate with Landlord (Together):
Approach the landlord together and explain your situation.
See if they're open to early termination with a penalty (if applicable in the TA).
Perhaps your sibling can find a replacement tenant to fulfill the remaining lease term, potentially reducing the penalty or inconvenience caused to the landlord.
Negotiate with Sibling:
If option 1 isn't feasible, discuss a solution with your sibling.
Could they take over the entire lease and find a replacement for your room, freeing you of your financial obligations?
Be prepared to compromise financially to reach an agreement.
Explore Break Clause (if applicable):
Review your TA carefully. Some leases have a break clause allowing early termination under specific conditions (usually with a penalty).
If a break clause exists, explore its terms and see if it's a viable option.
Important Considerations:
Financial Implications: Terminating the lease early might involve penalties outlined in the TA. Be prepared to potentially cover your share of the penalty or remaining rent if no solution is reached.
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