Termination

A lease agreement is always to be terminated in writing. A telephone or e-mail notification is not enough. If you have shared agreement, all parties must sign the termination form or terminate the lease agreement electronically. 

You can terminate a lease agreement:

The notice period is one calendar month, as per the Act on Residential Leases. The notice period is calculated from the last day of the calendar month in which notice was given. For example, if you terminate your lease agreement during January, your tenancy ends on the last day of February.

When the lessor gives notice on a lease agreement the notice period is six months if the lease has lasted uninterruptedly for at least one year immediately before the giving of notice. Otherwise, the notice period is three months.

Preliminary inspection

When a lease agreement is terminated, a preliminary inspection is arranged. It is carried out by a flat inspector. We will inform you of the time of the inspection by letter. Information about the preliminary inspection and cleaning your flat when moving out.

See final cleaning instructions on video!

 

If some tenant or tenants will stay in the apartment

If you wish to terminate your part of a lease agreement, both tenants must terminate their shared agreement first!

In these cases, too, the notice period is also one calendar month, as per the Act on Residential Leases. The notice period is calculated from the last day of the calendar month in which all parties have terminated their lease agreement. For example, if all parties terminate their lease agreement during January, your shared lease agreement ends on the last day of February!

In connection with the termination notice, inform the office which tenant would like to continue renting the flat. If there is no reason for discontinuing the agreement, a new agreement will be sent to be signed.

If the security deposit is in the name of the person moving out, it will be returned to him/her in full, unless he/she gives permission to transfer the security deposit into the name of the remaining tenant(s).

If the security deposit is returned to the person moving out, the remaining tenant(s) will have to pay a new security deposit. If the person moving out agrees to leave the security deposit in the name of the tenant(s) remaining in the flat, a written consent is required from that person.

If you terminate the contract by filling in the termination notice form fill in also security deposit form. If you terminate your contract electronically, inform us on the electronic form what we should do about security deposit.

The tenant moving out does not have to return his or her key, and a flat inspection is not performed. For further information, see changes to tenants.

 

Termination compensation

On 1 October 2015, we introduced a termination compensation of 50 €. This will be paid to the tenant if notice of the termination of a lease agreement is submitted no less than two months before its end.

The compensation is paid on the following conditions:

  • The termination notice is submitted no less than two months before the end of the agreement.
  • The tenant does not have any debts (unpaid rent, parking space fees, or other) to the lessor. The compensation cannot be used to reduce debts.
  • The security deposit is fully returnable (the flat has been cleaned properly, the keys have been returned, etc.).

The compensation is always paid at the same time as the security deposit is returned, to the bank account provided by the tenant.

The compensation does not apply to moving from one POAS flat to another, or to cases when another party/other parties to the lease agreement remain in the flat (i.e. the flat is not vacated).

 

Returning keys

When your lease agreement ends, you must return the keys to POAS office before 12  pm. on the first business day after the end of your tenancy. If keys are not returned before 12 pm. or you have not agreed with our office to different returning time, fee will be collected as shown on price list. Read more about keys.


Returning the security deposit

A security deposit is submitted to the lessor as a guarantee of fulfilling all the obligations of the lease agreement (paying the rent and other fees, taking good care of the flat, etc.). The security deposit is not advance rent, and it cannot be used to cover unpaid rent during tenancy; it cannot be touched at all before the end of the tenancy.

No interest is paid on the security deposit.

POAS aims to return the security deposit to the tenant’s bank account within three weeks of the tenant returning the keys, or after a potential new inspection when the flat is vacated, unless it is necessary to make deductions from the deposit. Usually the security deposit is returned on the 15th day of the month.

The following, among others, can be deducted from the deposit:

  • the lessor’s receivables (rent and other fees, debt collection and legal costs, penalty interest)
  • re-keying of locks/replacement of lost keys
  • compensation for deliberate damages to the flat
  • cleaning and repairs carried out at the lessor’s request, due to the condition of the apartment