Early termination of contract

[irisng]

If a tenant wants to terminate his rental contract earlier, what should the owner do? Must the owner gets the same agent to help to find a replacement tenant or can the owner get another agent to help to find another tenant or find a buyer if the owner wants to sell his unit. Must the owner inform his 1st agent that another agent is helping him to sell or find a tenant?

[proud owner]

If a tenant wants to terminate his rental contract earlier, what should the owner do? Must the owner gets the same agent to help to find a replacement tenant or can the owner get another agent to help to find another tenant or find a buyer if the owner wants to sell his unit. Must the owner inform his 1st agent that another agent is helping him to sell or find a tenant?

you would have paid the 1st agent comm for finding the existing tenant for the SAID period.
if tenant terminates early, the agent is obligated to help you find a replacement, OR pay you back the prorated comm...The latter is harder as most agent would have part of his comm deducted / given to his agency which he cannot take back... or he would have paid INCOME TAX on that comm ,,, again he cannot take back from IRAS..

hence he has to help you find a replacement.

but check your TA.. some TA indicates that early termination, tenant has to pay Landlord pro rated portion of the comm..

that way you can use any agent you like .. including the same agent.

if you are selling ... any agent will do

[irisng]

you would have paid the 1st agent comm for finding the existing tenant for the SAID period.
if tenant terminates early, the agent is obligated to help you find a replacement, OR pay you back the prorated comm...The latter is harder as most agent would have part of his comm deducted / given to his agency which he cannot take back... or he would have paid INCOME TAX on that comm ,,, again he cannot take back from IRAS..

hence he has to help you find a replacement.

but check your TA.. some TA indicates that early termination, tenant has to pay Landlord pro rated portion of the comm..

that way you can use any agent you like .. including the same agent.

if you are selling ... any agent will do

Thank you. Is there such a TA stating that tenant has to give 2 months notice or need to pay for the remaining rental within the contract period if he terminates earlier.

[irisng]

If the owner wants to sell, what is the best way that he should do? Let the tenant leaves first, so that the owner can empty the house and "patch up", then find buyer to view the unit or get the buyer to view the house while tenant is still living there, in this case, the house will be a bit messy at that time.