Questions & Answers
Consequences of terminating a lease contract after releasing first payment
Hi,
I signed a lease contract for a villa in Dubai with start date Nov 1st. Paid 5% deposit to the landlord and a 5% fee to the real estate agent.
Now, as we start discussing details about the move, we are not happy with how the landlord is discussing some small terms.
They are not major issues that would allow us to legally terminate the contract but small things that do not give us the confidence that our life would be easy with them in the future.
Therefore, we would like to cancel such lease contract with start date Nov 1st.
Question is what would be the consequences of such termination? Considering that the contract has not yet started, could we just cancel it now without any penalty and getting our deposit back?
Dear,
Greetings.
As I understand that you have signed the contract already, that means that you're obliged with all the terms.
Therefore, you have to find solutions by reviewing the terms of the contract regarding the statutes of 5% deposit and 5% for the agent.
First, you adjust the contract as an amendment for the clauses you like to amend, and in that case, you need to consult a lawyer to amend the contract in a way that suits you.
Second, continue with your contract to avoid the loss of the paid amount.
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