Hi there, I hope someone has some ideas. We are in a fixed term contract until Decmber 2016. Our current contract with a letting agent says that, should we want to end the tenancy early, we are required to pay rent until a new tenant is found, and then 10% for every month we leave early. We want to leave in August which would be 3 months early.
As we get on well with the the landlady, I decided to contact her directly to see if she would allow us to leave the property early without the penalty fee and she has infored us that she is now intending on selling the property. She has said that she will le tus out early under the condition she secures a sale.
My question is, if we now give notice under the tenacncy agreement with the letting agent, what would the conditions be as the landlady would not be looking to replace us as tenants? Would we be able to simply give notice of the intended leaving date and pay the penalty fee? We are concerned that the house won’t sell in 3 months and are still waiting for clarification as to what ‘sell’ actually means.
Any advise would be much appreciated.