Can I charge my tenant a penalty for moving out before the end of the lease period?

Under the Residential Tenancies Act there is no provision which allows a landlord to charge a fixed penalty when a tenant terminates a tenancy before the end of the rental term. A landlord’s recourse when a tenant moves out before the end of the lease term is to mitigate their loss by finding new tenants as soon as possible and file an L10 Application for any losses the landlord incurred as a result of the tenant’s breach of contract.