Common use of Not a Release Clause in Contracts

Not a Release. The re-letting charge is not a Lease Contract cancellation fee or buyout fee. It is a liquidated amount covering only part of Landlord’s damages; that is, Landlord’s time, effort and expense in finding and processing a replacement. These damages are uncertain and difficult to ascertain—particularly those relating to make ready, inconvenience, paperwork, advertising, showing Units, utilities for showing, checking prospects, overhead, marketing costs, and locator service fees. Resident agrees that the re-letting charge is a reasonable estimate of such damages and that the charge is due whether or not Landlord’s re-letting attempts succeed. The re-letting charge does not release Resident from continued liability for: future or past due Rent; charges for cleaning, repairing, repainting, unreturned keys, or other sums due. Resident is expected to return the Unit to the condition in which possession was taken in order to avoid incurring damage charges. Landlord will inspect the Unit after Resident vacates to assess damages and make any necessary repairs to the Unit before the replacement Resident moves in. The payment for these repairs must be received by Landlord before the Lease is considered fully executed.