Termination of management agreement

The Management Contract with Monks can be terminated by either party upon giving one month’s written notice of intention. However, in the event that a Landlord decides to terminate the Management contract with Monks within the first 12 months, a lump sum termination fee will be charged, which will be equivalent to a total of one month’s rent, net of any fees already paid.

In the event that the agreement is terminated by the Landlord prior to occupation but where costs have been incurred such as preparation of the Tenancy Agreement or Inventory and Schedule of Condition, a fee may be charged based on costs incurred.