When it comes to building your financial knowledge, a basic understanding of a few real estate laws can go a long way to securing your financial freedom. It is safe to say that at one time or another most Americans have rented an apartment or house. In most circumstances, it is generally easier to renew your lease than it is to look for, and find, a new place to live. If, however, you are not planning to stay put, it is crucial that provide your landlord a form known as the tenant notice to vacate.
What is a Tenant Notice to Vacate
Also known as a 30 Day Notice of Intent to Vacate, a tenant notice to vacate is simply a form that a person can use to let their landlord know that they do not intend to renew their lease. In a nutshell, this form tells the property’s management that they need to start looking for someone else to rent, or lease, their property starting next month. It is a formal way of ending the tenancy agreement.
When Should a Tenant Provide a Notice to Vacate
Each state has their own basic requirements as to when these notices should be used. It is safe to say that in just about every circumstance the tenant would be much better served to simply complete one and give it to the proper person at least thirty days before their lease expires. If the tenant currently leases a rental property on a month-to-month basis, many states require the tenant to provide one.
What Information Should Be Included
Although the specific information that should be provided varies slightly from state to state, there are a few things that should always be included. These include the name of the person, or persons, that will be vacating the property, the address of said property, the number of days from which the tenant will vacate the property, any reasons why the property is being vacated, and proof that the landlord received the notice to vacate from the tenant. Of course, the signature of the tenants is also required.
It should be noted that filing this notice does not actually end the lease agreement. If a tenant still has time left on their contract, they may be forced to pay all, or some, of the future payments amounts due until the lease actually expires. As with any real estate contracts, including a tenant notice to vacate, it is always a good idea to consult with a duly licensed attorney in the state of the leased property.