What is the term of my lease agreement?

Length of the lease agreement

The lease agreement you sign with Lumo Homes is, as a rule, a non-fixed-term agreement. For our properties, the earliest possible start date of the notice period is either six (6) or eleven (11) months after the start of the lease agreement. The notice period is always one (1) calendar month. This means that the lease agreement will be valid for at least six (6) or twelve (12) months depending on your agreement. In some of our properties there is a three (3) months minimum period of living. You can check the earliest possible starting date of the notice period from your lease agreement. However, we hope you will stay with us for a long time!

Termination of the lease agreement before earliest possible start date of the notice period

Termination of the lease agreement is always possible in accordance with the contractual penalty (1 month’s rent) stated in the agreement. The notice period is always one (1) calendar month.

Lumo homes always have an option to switch from one Lumo home to another. Lumo residents can move from one Lumo home to another after six (6) months of living. Home exchangers have no notice period and are not required to pay the contractual penalty. After the switch the new lease agreement will be valid for at least 6 or 12 months depending on the minimum period of living in the new property.