Abacus Wealth Management

Three Months Notice?

Imagine having to give your Landlord three months notice before you can vacate a house.

Well, this will be the case when the Landlord and Tenant Bill, which is yet to be discussed by cabinet, is passed.

Finding that ideal house to rent today is proving to be a hustle and when you find one you will definitely want to move in ASAP. Now imagine having to give your current landlord three months notice before you can move into the new place.

Giving notice can be considered a formal agreement, whether it was done verbally or in writing, a simple handshake seals it.

Considering the type of landlords we have, this is the scenario you should expect:

Those who can’t give three months notice will have to forgo their deposit cash since the landlord will have valid reason for holding on to it. With the current tough financial times and considering the high costs of moving out, it will be hard to forgo your deposit money.

This clause will benefit tenants who won’t incur any additional expenses even if they give 3 months notice. This refers to tenants who are migrating to a different town or country and had initial knowledge of it. They can give notice and get their deposit refund without much complication.

Considering the fact that most landlords are reluctant to surrender the deposit cash, most tenants won’t bother to notify them if they are to move three months before hand, so in the long run this clause won’t make much sense.

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