The End of Rental Agreement is a crucial document used in Nigerian property law to formally conclude a tenancy relationship. It becomes necessary when either the landlord or tenant wishes to terminate their rental agreement, whether at the natural end of the lease term or through mutual agreement for early termination. The document ensures compliance with the Nigerian Rent Control and Recovery of Residential Premises Act and state-specific tenancy laws. It covers essential elements including final property inspection, utility settlements, security deposit resolution, and confirmation of vacant possession. This agreement serves as legal protection for both parties by clearly documenting the termination terms and preventing future disputes.
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1. Parties: Identification of the Landlord and Tenant with full legal names and addresses
2. Background: Brief history of the tenancy, including original lease date and key terms
3. Definitions: Key terms used throughout the agreement
4. Termination Date: Specific date when the tenancy will end or confirmation of its end
5. Confirmation of Vacant Possession: Tenant's commitment to deliver vacant possession of the premises
6. Settlement of Accounts: Details of final rent, utility bills, and other financial obligations
7. Security Deposit: Terms for the return or deduction from the security deposit
8. Keys and Access Devices: Arrangement for return of all keys and access devices
9. Final Inspection: Process and timing for final property inspection
10. Mutual Release: Release of parties from future obligations under the original lease
11. Governing Law: Confirmation that the agreement is governed by Nigerian law
12. Signatures: Execution section for all parties
1. Forwarding Address: Section for tenant's new address for future correspondence, used when tenant is relocating
2. Disputed Matters: Section addressing any ongoing disputes or unresolved issues, included when there are pending disagreements
3. Renovation Works: Details of any agreed renovation or repair works, included when property requires restoration
4. Outstanding Violations: List of any lease violations that need to be addressed, used when there are unresolved breaches
5. Third Party Claims: Addressing any pending claims involving third parties, included when relevant
6. Abandonment of Property: Procedure for dealing with items left behind, included when there's risk of abandoned possessions
1. Schedule A - Property Condition Report: Detailed assessment of the property's condition at termination
2. Schedule B - Outstanding Payments: Itemized list of any pending payments or refunds
3. Schedule C - Inventory Checklist: List of fixtures and fittings and their condition
4. Schedule D - Utility Accounts: Details of utility accounts and final readings
5. Schedule E - Damage Assessment: If applicable, detailed list of damages and repair costs
6. Appendix 1 - Photographic Evidence: Photos documenting the property's condition at termination
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