breaking your lease
Has something come up and you need to move out of your property? If it’s time to move on but you’re still in the middle of your lease agreement, you’ll need to end your agreement early (otherwise known as breaking your lease). This can be costly and there is a lot to think about so we’ve put together a list to help make it all as stress-free as possible.
Give your notice
Once you decide that you need to end your lease early you’ll need to notify us, giving as much notice as possible. To give notice, you’ll need to fill out and sign a Notice of Intention to Leave (RTA Form 13).
As soon as we receive your notice, we will let the property owner know of your intentions and will obtain instructions from them to start advertising your property to new tenants.
In most cases when breaking your lease, you will be liable to compensate the owner for their losses. The compensation costs include:
• Paying your rent until the day before new tenants move in or until the expiry date of your lease (whichever happens first). This still applies even if you’ve already vacated and are no longer living at the property.
• Advertising costs
• A reletting fee
Find a new tenant
Our agency and the property owner will do everything we can to try to mitigate any loss associated with breaking your lease; part of this includes finding a new tenant as quickly as possible.
There are ways that you can help to try to find new tenants quicker:
• Keep the yard well presented. If you’ve already moved out, it may mean that you’ll need to come back regularly to maintain the lawns and gardens or have someone else do it for you. Making sure the property is presented well on the outside will help to attract people to the property.
• Keep your home neat and tidy at all times and clear up any clutter.
• Cooperate as much as possible with us and keep the lines of communication open. Our aim is to try to secure new tenants for your property as quickly as possible and this may involve a number of viewings. It’s in your best interest to allow us to take prospective tenants through, even if the timing sometimes doesn’t fit with your schedule.
• Offer a rent rebate to the end of your lease. On occasions where you’re vacating soon and a new tenant hasn’t been found, you may consider reimbursing the owner a small amount per week (e.g. $10 or $20) so that we can advertise the property at a lower price. You’ll only be responsible to pay this rebate until the end of your lease and this may help to attract more interest from prospective tenants. By doing this, it can help by saving you hundreds of dollars in rent.
Once a new tenant is found
Once we’ve been able to secure a new tenant for your property, we’ll contact you to let you know when they will be moving in and give you a ‘revised’ lease end date (the day before the new tenants start date). This is the date that your rent will need to be paid to.
To allow us enough time to complete your final inspection and ensure the property is in good condition and ready for new tenants, you will need to have vacated the property at least 4 business days prior to the new tenants start date.
Once your tenancy has been finalised, we will get in touch with you regarding the bond refund process.