What does the term "lease termination" refer to?

The term "lease termination" refers specifically to the ending of a lease agreement, which can occur in two primary ways: it may happen automatically upon the lease's expiration or through an mutually agreed-upon decision by both the landlord and tenant to end the lease before its official end date. This understanding is fundamental in property management, as lease termination can involve various legal responsibilities and rights for both parties involved.

By recognizing lease termination as the conclusion of a lease agreement, one can better appreciate the procedural requirements, such as notification periods or conditions under which either party can terminate the lease. Understanding this definition also underscores the importance of clear communication and documented agreements in and around the process of ending a lease.