Replacement Tenants Clause Samples
The Replacement Tenants clause outlines the process and conditions under which a tenant may find another party to take over their lease obligations. Typically, this clause specifies the requirements for landlord approval, the qualifications a replacement tenant must meet, and any fees or procedures involved in the transfer. Its core function is to provide tenants with flexibility to exit a lease early by transferring their responsibilities, while ensuring the landlord maintains control over who occupies the property and that the lease terms are upheld.
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Replacement Tenants. 17.1 The Tenant will be unable to end their Tenancy prior to the expiry date of their tenancy, unless;
(a) The Tenant can show their rental account is fully up to date;
(b) A replacement tenant has been found who can take over the tenancy until the expiry date of the Tenancy. The replacement tenant must be authorised to take up the tenancy by all other remaining tenants of the household and by the Landlord; however for the other housemates to reject a replacement tenant proposed by the tenant leaving the property a valid and just reason must be given and agreed by the agent. Stating that the tenant is not suitable is not enough.
(c) The leaving Tenant and replacement tenant have signed the appropriate documentation provided by the Landlord
17.2 if no replacement is found and a Tenant leaves the loss of rent for that period we will make every effort to collect all outstanding rent and other payments from that tenant and / or their guarantor, should the agent be unsuccessful all outstanding monies will be deducted from the group deposit, deposited at the commencement of the Term
Replacement Tenants. In the event that BSP negotiates a Cell Lease with a new Tenant and such Tenant replaces the space leased by an existing Tenant that elects not to renew its Cell Lease, BSP shall earn a fee on the Cell Lease with the replacement Tenant on the same terms as described in paragraph 1 of this exhibit, and in such event the Baseline Rent shall be based on the rent of the Tenant that is being replaced by the new Tenant.
Replacement Tenants. In the event that BSP negotiates an agreement with a new Tenant and such Tenant replaces the space leased by an existing Tenant that elects not to renew their agreement, BSP shall earn a fee on the agreement with the Replacement Tenant on the same terms as described in paragraph 1 above, and in such event the Baseline Revenue shall be based on the revenue of the Tenant that is being replaced by the new Tenant.
Replacement Tenants. If after 22 business days from the notice given by or to one “departing” Tenant neither a recommendation from the “remaining” Tenant for a “replacement” Tenant nor an application for sole tenancy has led to a successful new rental agreement, the Landlord may impose his choice of “replacement” Tenant for the departed Tenant regardless of the preferences of the “remaining” Tenant, including for the Landlord to require the remaining tenant to take over the whole Flat (the default case if the “remaining” tenant themselves have not given notice within 11 days of receiving notification of the other “departing” tenant having given notice to quit) and, if not, the Landlord may give notice to quit to the remaining tenant. The normal period of notice applies: 44 business days from the tenant to the landlord, and three months from the Landlord to the tenant.