A commercial lease termination letter is sent by a landlord or tenant seeking to end a lease early or by not renewing at the end of the term. The letter is commonly sent by the tenant asking the landlord to get out of the lease. The landlord can request to cancel the lease although it’s not common. After the landlord and tenant have negotiated the terms of canceling the lease, a lease release form should be signed to make it final.
Paying for Release
It is common when canceling a lease to have the landlord or tenant pay a fee to the other party. This is an inconvenience especially if the tenant is leaving early after the landlord built-to-suit. Therefore, the landlord may charge a fee in excess of 2 or 3 months if there is over a year left on the lease.