What are notice period charges and contract breakage?

Modified on Wed, 17 Apr 2024 at 04:09 PM

At Settl, we have established clear policies regarding Notice Period Charges and Contract Breakage Charges to ensure a smooth and fair transition for both parties involved. Notice Period Charges are applied in instances where a tenant decides to vacate the property without providing the required one month's prior notice. This policy is in place to ensure fairness, allowing us adequate time to prepare for the transition.

Similarly, Contract Breakage Charges are levied when a tenant chooses to terminate their lease agreement before the end of the agreed-upon tenure. This charge is implemented to compensate for the unexpected vacancy that arises from the early termination, ensuring that we can maintain the continuity and quality of our living spaces for future residents.

Both these policies are designed with the intention of maintaining a balanced and respectful relationship between Settl and our tenants, ensuring that transitions are managed smoothly and that both parties have clear expectations about the process.

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