I would like your views on Early Termination of Tenancy Agreement. I have just taken a unit in condo on tenancy for 2 Years period with Executive Clause and have not even completed 4 months of tenancy (at a rent of 4k / Month). My landlord is in the process of finalizing a deal to sell the unit and has informed me of same. Apart from executive clause, there is no additional terms / condition for early termination of tenancy. Since the prospective buyers want to use unit for their own use, sale can only proceed if I agree to move out. The landlord has consulted me and offered me a compensation apart from returning my security deposit. I will also get sufficient time for searching another unit before I would have to move out. However I am not sure how much compensation I am entitled to. I had taken unfurnished house and just bought furniture, TV etc, which has costed me around 6K.
Could you please advise on below:
- What should be the compensation?
- Can landlord force me to terminate tenancy, if I don't agree.
- What would have been penalties & money I would have to pay if the early terminal was from my side (in same scenario, with only 4 months into Tenancy)
Will appreciate your comments and suggestions in this matter.