What happens when the rental agreement ends?

Agreement completion with settlement

It's the legal way to put an end point, at one time, to all the obligations contracted. It goes much further than returning the key to the owner, since it implies ending the tenant relationship by closing the door to future claims by both the tenant and the owner.

Agreement of termination with retention of the bond

With this kind of agreement certain obligations are closed but not all of them. The most relevant aspect of this agreement is that it regulates the relationship between the parties from the end of the rental until the final settlement of the pending obligations. The obligations of the two parties are established in the same document.

Once signed any of the two documents, the rented property will be owned by the landlord. It's very important that, before drafting the finalization agreements, both parties review in detail the property, since the document will detail the absence or existence of damage to it. In this case, the economic responsibility will fall on the tenant.