The lease termination date is the date on which a lease agreement ends. This date is significant for both landlords and tenants as it marks the end of the rental period. On this date, the tenant is typically required to vacate the property unless a new lease agreement is signed. The lease termination date is usually specified in the lease agreement, but it can also be calculated based on the lease start date and the duration of the lease.
The formula to calculate the lease termination date (T) is:
\[ T = S + D \]
Where:
Let's say the lease start date (S) is 2024-01-01, and the lease duration (D) is 12 months. Using the formula:
\[ T = 2024-01-01 + 12 \text{ months} = 2025-01-01 \]
So, the lease termination date (T) is 2025-01-01.
