Arkansas Termination of Lease Agreement: What You Need to Know
Terminating a lease agreement is a common occurrence in the real estate industry. Whether it`s because of a job transfer, a change in financial situation, or a need for a larger space, tenants and landlords alike may find themselves needing to terminate a lease agreement before its end date. In Arkansas, there are specific legal guidelines that govern the termination of a lease agreement. As a professional, here`s what you need to know about the termination of lease agreements in Arkansas.
Termination for Cause
In Arkansas, a lease agreement can be terminated for cause. This means that either the tenant or the landlord has breached the terms of the lease agreement, and as a result, the agreement can be terminated. In the case of a tenant, a breach of the lease agreement may include failure to pay rent or violating a lease term, such as having unauthorized pets or subletting the premises without the landlord`s consent.
If the landlord breaches the lease agreement, it may include failing to make repairs or provide necessary utilities, violating the tenant’s privacy rights, or entering the residence without prior notice or permission. In either case, the affected party must provide notice to the other party of the breach of the lease agreement, giving them a specific amount of time in which to cure the breach. If the breach is not cured within that time, the lease agreement can be terminated, and the party not at fault will be relieved of any further obligations under the lease.
Termination without Cause
In Arkansas, tenants can terminate a lease agreement without cause by giving written notice at least 30 days before the termination date. This is commonly known as giving a “30 days` notice.” If the tenant fails to give the required notice, they may be responsible for rent and other fees until the end of the notice period or until a new tenant is found.
Likewise, landlords can terminate a lease agreement without cause by giving written notice to the tenant at least 60 days before the termination date. However, if the tenant has lived in the residence for more than a year, the landlord must give a 90-day notice instead.
Early Termination
In some cases, tenants may need to terminate a lease agreement before the agreed-upon date. This may include a job transfer or a change in financial situation or personal circumstances. In Arkansas, tenants have the legal right to terminate a lease agreement early if they are a victim of domestic violence, sexual assault, or stalking. In these cases, the tenant must provide written notice to the landlord, along with documentation of the incident, and the lease agreement will be terminated 30 days from the date the notice was given.
Conclusion
Terminating a lease agreement may be a common occurrence, but it`s important to understand the legal guidelines that govern it in Arkansas. Whether it`s for cause or without cause, tenants and landlords are required to follow specific procedures when terminating a lease agreement. If you`re a tenant or landlord in Arkansas, it`s always best to consult with an attorney before taking any legal actions to ensure that you`re following the law and protecting your legal rights.