Due to the emotions or fear of legal issues terminating has always been hard to implement. Creating a well-constructed termination letter is mandatory in order to protect your company from future litigation. There are various types of the termination letter a company must be aware of. Voluntary termination, probationary employee termination, staff reduction termination, job termination, mutual agreement termination, lease and service termination are a few of them.
All companies, in general, write a termination letter on their own format if necessary. In the real estate industry, it is important to build the properly crafted termination letter on their own as the industry involves multiple legal tasks. This page is about to show you the variety of termination letters used in the real estate industry.
Real estate agency termination letter is usually needed when the client or any affiliate company is not satisfied with the agency performance. If the client has not seen profits so long, then this letter will be written to the agency indicating the reason for termination. It is apparent that if any company signed an agreement with a real estate agency, they probably need a legal advisor before writing a termination letter to the agency. Some agreement may violate termionation for several months. So consult with the lawyer and make sure you are legally allowed to terminate the services. In some counties, it is necessary to give ample notice or severance pay in order to complete the termination process. By approaching a lawyer you will get to know relevant terms about termination. This will help you stay away from the risks of lawsuits.
Writing a termination letter requires intense concentration until completing it. The letter should be concise and focused on the topic. The letter must follow a proper business letter format and look professional and respectful so that the agent receives the message with a positive aspect. Express the message in a more genuine way rather than showing it too emotional. Most of the companies fail to recall the policies that must be in effect after the agent become fired. Including the policies is always recommended.
Certain format needs to be followed while writing a termination letter. The letter must include the employee name, ID number, position, name of the supervisor, etc. But when it comes to tenancy termination, the letter must include detail of the property, legal agreement including non-compliance and non-disclosure, which the tenant of the property signed. Check the sample periodic tenancy termination letter embedded here.
Real estate contracts are signed by both parties. Here real estate agency and buying/ selling company both play significant roles respectively. Contracts are signed by both parties by indicating the services they need to provide, terms and conditions. A lawyer acts as a witness factor while making the contract process. Similarly when it’s time to break the contract both parties must be present in the venue with their lawyers for speaking their side. Check the sample contract termination letter available below.
Not every situation brings to the termination stage, there are several cases wherein you really need to produce a termination letter. A termination letter can be made if it is legally required by the law of the country. Termination can be held if the employee is not eligible for unemployment, this may happen in the event of gross misconduct. If the company needs legal protection from the agency then the services subject to be terminated. Moreover, a termination letter helps the agent know why they have been terminated. It includes important information such as compensation, benefits and ongoing agreements. Check one of the well-made real estate partnership termination letter displayed here.
Real estate is all about selling and buying process. While buying or selling any property, it is important to make an agreement beforehand. Similarly, when the company denies getting the services from the agency, then it needs to submit a termination letter indicating the cancellation of the agreement. All the terms and conditions mentioned in the agreement must be highlighted here. It announces the company’s intention to end or terminate all relations with other parties. The sample letter given below will give you an idea while creating a termionation letter for your company.
A lease termination letter is written to end or cancel the contract between landlord and tenant. Most of the businesses confuse notice with a termination letter. Notice is submitted to the tenant in order to announce him about the days of occupancy whereas termination letter is written as the way to ask them to leave the property. It includes specific terms and conditions like the sample attached here.