Tenant
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Tenants obligations
The tenant has significant obligations toward the landlord and the rental property. These include, among other things, the duty to:
pay the rent on time
take good care of the property
report defects or damage as soon as possible
Tenants rights
The tenant also enjoys rights under the law. These primarily include the right to:
receive a written and clear lease agreement
be informed of the amount of rent and any changes to it during the lease term
receive the dwelling in habitable condition
have the security deposit kept in a separate, non-restricted account earning the highest possible interest
receive the security deposit back, with accrued interest, at the end of the tenancy (if no claims have been made against it by the landlord)
apply for housing benefits
Lease agreement
The lease agreement is the fundamental document between the landlord and the tenant. According to law, a lease agreement must be in writing and registered in the HMS Rent Register (Leiguskrá HMS). It is necessary to enter into a lease agreement in order to:
facilitate the resolution of disputes
protect the tenant in case misunderstandings or problems arise later
Amendments to a lease agreement
Changes to a tenancy agreement during the lease term are not permitted unless specifically agreed upon in the contract.
The landlord may request a change to the rent amount once more than 12 months have passed since the agreement entered into force. If no agreement is reached, the dispute shall be referred to the Housing Complaints Committee (Kærunefnd húsamála).
Sample notification forms that must be submitted to HMS can be accessed here.
Termination or cancellation of a lease agreement
The notice period varies depending on the type of housing and the length of the lease term.
Termination must be in writing and sent in a verifiable manner, such as by electronic means.
A landlord may terminate an open-ended (indefinite-term) agreement in certain specified cases. The termination must be notified to HMS electronically.
A fixed-term agreement generally cannot be terminated before it expires, unless special provisions are included in the contract.
Cancellation (rescission) of a tenancy agreement is permitted for the parties in certain cases. It must be in writing and registered in the HMS Rent register (Leiguskrá HMS).
Disputes regarding termination or cancellation may be referred to the Housing Complaints Committee.
Further information on leasing and the termination or cancellation of lease agreements can be found here.
Laws and Regulations
Service provider
Housing & Construction Authority