Break Lease
Breaking a lease can be a challenging situation for both tenants and landlords. Whether this is due to unforeseen circumstances or a change in life plans, understanding the implications and navigating the process is essential.
In this blog post, we'll explore the key aspects and offer guidance to help tenants make informed decisions.
Before taking any steps, carefully review your lease agreement. Look for clauses related to early termination, penalties, and the procedures to follow. Understanding your lease agreement will provide insight into the potential consequences.
Secondly, you must issue the Property Manager a Form 13 (Notice of Intention to Leave). The sooner you do this, the sooner the process of finding a new tenant can commence. The vacate date is the day you intend to empty the house, and a total bond clean has been done (as would be if you had stayed your full lease term) and will be handing the property back to the Property Manager.
There will be a break lease fee, which is one week's rent + GST, plus marketing fees to re-advertise the property online and any other costs pertinent to getting the property ready for advertising (this may include photography if required).
You are also still responsible for the rental payments, the security, and the grounds (lawn and garden maintenance) of the property until a new tenant moves into it. For this reason, you must keep utilities connected. If a new tenant were to sign a lease starting 12th September 2023, your responsibility would end on 11th September 2023. For this reason, you are to keep the keys and only hand them back to the Property Manager when a new tenant is secured and an actual 'vacate date' has been confirmed. An exit inspection by the Property Manager will only occur once a 'true vacate date' has been confirmed.
A water meter reading will be conducted the day before the new tenant moves in, and a final water bill will be issued. Once paid and all outstanding invoices/rent/conditions are satisfied, the agent will lodge your bond refund; being electronic, the RTA will contact you directly for bank details.
Lastly, remember you need to provide the Property Manager with your forwarding address as this is for forwarding mail purposes etc.
While breaking a lease is not ideal, understanding the process and communication can make the situation more manageable. Here at Sash & Gable Property, we approach early lease termination with empathy and a willingness to find mutually beneficial solutions. By navigating this process responsibly, both parties can minimise financial losses and maintain positive rental relationships.
If you require any further support on this matter or any other, please know we are here to help.
☎️ 07 3396 1396
📧 mail@sashandgable.com.au
🌏 www.sashandgable.com.au