The unexpired period of lease is the amount of time remaining before the lease agreement comes to an end. This can be calculated by subtracting the current date from the expiration date listed in the contract (1). For instance, if a tenant has signed a 12-month lease that expires on October 31st, and it is currently June 30th, then they have an unexpired period of four months. It is important to note that this calculation only applies when there is no written clause or provision indicating otherwise.
– What is the unexpired period of lease?
When calculating an unexpired period of lease, both parties should also consider any pre-paid rent or security deposits associated with the agreement as these will need to be taken into account when determining how much time remains. Additionally, landlords should also factor in any applicable laws related to early termination fees or other penalties for breaking their lease if needed (2).
Ultimately, understanding one’s unexpired period of lease is essential for both tenants and landlords alike as it provides them with a timeline for how long they are bound by their agreement and helps avoid confusion over when exactly it will end.
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