60 Day Early Termination Clause in a 12 month lease

[Rachelle Bisaillon]

Hi all, I have a tenant requesting a 60 day early termination clause be built into her 12 month lease. I am applying for Helocs and am concerned this may affect the loan process in their determination as to how much to loan me as they may see this lease as not being stable with an early termination clause. Does anyone know anything about this and any other cons regarding early termination clause. I know she thinks my rent is high and is trying to find something cheaper and plans to move out as soon as she can find something cheaper.

[Josh Young]

I have an early termination clause in my leases and I have provided this lease to lenders when applying for conventional financing and none of them have ever had a problem with it.  Here is my actual clause from my leases: 

Early Termination Of Lease

The Tenant(s) may terminate this lease’s length by delivering to the Landlord a written sixty (60) day Notice To Vacate and an early termination fee of two (2) month’s rent (section 1). This notice and fee must be received by the Landlord at least sixty (60) days before Tenant(s) vacate and stop paying rent. Additionally, to initiate an Early Termination Of Lease all rents owed to the Landlord by the Tenant(s) must be paid in full and current.