In today’s dynamic market, lease surrender offers a flexible way for landlords and tenants to part ways before lease expiry—whether it’s to downsize, redevelop, or restructure.

But while it can be mutually beneficial, failure to document the surrender properly can lead to costly consequences:

Landlords risk:
– Unclear termination status
– Loss of claims for dilapidations or arrears
– Legal disputes over possession

Tenants risk:
– Continued liability for rent and covenants
– No formal release from obligations
– Exposure to future claims

The solution? Read the full article to find out.