2012/01/24 09:00:25 PM Crispybacon Posts: 4	I am an owner and have drawn up my own contract which is CPA compliant and only requires 20 business days notice from my tenant. I always entertain reasonable requests, however, my tenant has just given me 8 business days notice, i.e they intend leaving the premises end Jan. What are my legal options? I am seriously considering refunding the deposit(provided there is no damage) on a pro rata basis, eg 8/20 x deposit. Any other suggestions? edited by Crispybacon on 2012/01/24
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2012/01/27 11:28:39 PM Marc Lunau Posts: 175	I would say if you have not found a new tenant before the 20 business days are up keep back the rent which is due to you for the remaining 12 business days as reasonable penalty also also deduct damages if any. But it depends also on a lot of factors like for example how long was the lease for and how much was it cut short by etc. See CPA or one of Michelle's post I saw elsewhere which described the considerations to determine the reasonable penalty amount as per CPA. -- Investor and Property Manager with value add solutions www.houses4rent.co.za
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2012/01/27 11:29:58 PM Marc Lunau Posts: 175	I found Michelle's post: The draft CPA regulations limited the penalty that the landlord could charge the tenant for early cancellation to 10%, but the final regulations state the penalty should be reasonable taking into account the following: The amount the consumer is still liable for up to date of cancellation The value of transaction up to cancellation The value of goods which will remain in possession of the consumer after cancellation The value of the goods returned to supplier The duration of initial agreement The losses suffered or benefits accrued to the consumer The nature of goods / service The length of notice of cancellation provided by the consumer The reasonable potential for the service provider, acting diligently, to find an alternative consumer The general practice of the relevant industry Notwithstanding the above – the supplier may not charge a charge which would have the effect of negating the consumer’s right to cancel a fixed term agreement -- Investor and Property Manager with value add solutions www.houses4rent.co.za
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2012/02/02 10:03:17 AM Crispybacon Posts: 4	Hi Marc, Thanks for your input.
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