What is the term of my tenancy agreement?

What is the term of my tenancy agreement?

If you rent an apartment directly through the Lumo webstore

If you rent an apartment directly through the Lumo webstore, you can choose the start date of the tenancy agreement yourself. The tenancy agreement is initially a six-month (6) fixed-term agreement that will be subsequently extended as an agreement valid until further notice, provided that both parties wish to do so. If there are no problems related to your residency, we hope you will remain a Lumo resident beyond the initial fixed-term period and that you have found a home that you will want to keep for a long time.

We also offer you the opportunity to sign a tenancy agreement for three months for some Lumo homes available for rent directly through the Lumo webstore. If you are unsure of how long you will need the apartment for, you can start off with a shorter tenancy agreement, which will mean a slightly higher rent. This kind of tenancy agreement is always a fixed-term agreement for three (3) months, and it can be extended if both parties wish to do so. Even if you move in for a shorter time, you will still get a home that feels like home!

Some of the newly constructed properties have a twelve-month (12) fixed-term agreement that will be extended if both parties wish to do so.

Read more: Lumo webstore terms of use for renting an apartment directly through the webstore

If you sign a tenancy agreement some other way

If you find an apartment with the help of one of our sales representatives, for example, you will likely sign a non-fixed-term tenancy agreement. The agreement will nevertheless include a provision concerning the earliest possible starting date of the notice period, which means that you commit to staying in the apartment for at least six months. If you want to terminate your lease earlier than that, we will charge a contractual penalty equivalent to one month’s rent at the end of your agreement.