The Rental Termination Agreement is a crucial document used in Austria when both landlord and tenant mutually agree to end their rental relationship outside of the standard notice period. This document, governed by the Mietrechtsgesetz (MRG) and ABGB, serves to protect both parties' interests by clearly documenting the agreed termination date, conditions for property return, settlement of outstanding payments, and deposit return arrangements. It's particularly important in both residential and commercial contexts, as it helps prevent future disputes by establishing clear terms for the tenancy conclusion. The agreement should be used whenever parties wish to formally document their mutual consent to terminate a lease, whether it's ending prematurely or at its natural conclusion. It includes essential provisions required under Austrian law and can be customized to address specific circumstances of the rental relationship.
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1. Parties: Identification of landlord/lessor and tenant/lessee with full legal names, addresses, and any registration numbers
2. Background: Details of the original rental agreement including date, property address, and reference to why termination is being agreed upon
3. Definitions: Definitions of key terms used throughout the agreement
4. Termination Date: Clear specification of the termination date and time when the property must be vacated
5. Property Handover: Requirements for the condition of the property upon return, inspection process, and key return procedure
6. Final Payments: Settlement of any outstanding rent, operating costs, and utility bills
7. Security Deposit: Arrangements for the return of the security deposit, including timeline and conditions
8. Mutual Release: Mutual release of claims related to the tenancy, subject to the fulfillment of the agreement's terms
9. Governing Law: Confirmation that the agreement is governed by Austrian law, specifically referencing the MRG and ABGB
10. Signatures: Execution clause and space for dated signatures of all parties
1. Forwarding Address: Section for tenant's new address for future correspondence, required if there will be subsequent communications or deposit return
2. Outstanding Repairs: Details of any repairs required before handover or agreement on existing damage, include when there are specific repair requirements
3. Utility Transfer: Procedures for transferring or terminating utility contracts, include when utilities are in tenant's name
4. Personal Property: Arrangements for removal of tenant's remaining personal property, include when there are specific items to be addressed
5. Insurance: Requirements regarding termination of insurance policies, include when insurance was required under the original lease
6. Third-Party Rights: Addressing rights of any third parties (e.g., subtenants), include when there are registered third-party rights
1. Schedule 1 - Property Condition Report: Detailed documentation of the property's condition at termination, including photographs
2. Schedule 2 - Inventory List: List of any fixtures, fittings, or furniture included in the original rental and their condition
3. Schedule 3 - Utility Readings: Final meter readings for electricity, gas, water, and other utilities
4. Schedule 4 - Outstanding Payments Calculation: Detailed calculation of any final payments, including rent, utilities, and other charges
5. Schedule 5 - Deposit Deductions: Itemized list of any deductions from the security deposit with justifications
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Management
Residential Housing
Commercial Property
Retail
Hospitality
Industrial
Office Space
Legal Services
Property Development
Relevant Teams
Legal
Real Estate
Facilities Management
Operations
Property Management
Asset Management
Tenant Relations
Contract Administration
Property Services
Risk Management
Relevant Roles
Property Manager
Real Estate Manager
Facility Manager
Legal Counsel
Real Estate Agent
Property Administrator
Housing Officer
Lease Administrator
Asset Manager
Operations Manager
Building Manager
Tenant Relations Manager
Contract Administrator
Real Estate Portfolio Manager
Property Services Coordinator
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