I searched the forum and couldn't find it so forgive me if this has been asked before!
Just wondering if anyone has broken their rental lease and if you had to buy out of it (and how much) or if you had to find a new tenant?
Our lease ends June 14 but I'm looking into moving before that so just wondering if it's worth it! Obviously I know every real estate is different but just wanted a bit of an idea!
Thanks in advance
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27-02-2012 12:36 #1
Breaking a rental lease!
27-02-2012 12:48 #2
DH and I broke lease in 2010 when I was made redundant, we did the right thing as soon as we found out and contacted the real estate and told them we could not afford the rent on one income and to start getting things rolling on getting a new tenant - we ended up having to pay rent until another tenant was found (this is normal) advertising costs $150 and another 2 weeks rent as almost like a punishment for leaving early, all up it cost is around $1800 (there went my pay out!!)
Our estate agents were very very dodgy and have since shut down so I doubt you would end up paying as much as we had to
27-02-2012 12:51 #3
You are responsible for paying rent until your lease is taken over by the new tenant. Any advertising costs. And the re-let fee which is the equivalent of 1 weeks rent (the owner usually pays this to the real estate agent when they find new tenants and the end of a tenancy, but if you break lease then you have to pay this).
Hope that helps
27-02-2012 12:52 #4Senior Member
- Join Date
- Apr 2010
I've done it twice.
It depends on what state your in as to their exact rules. But in most cases it's you have to pay a break lease fee, the cost of re advertising and in some cases rent until someone has moved in. The real estate has to be actively looking to put someone in and fast though.
You can also apply through the tribunal to get out for certain circumstances ie financial hardship etc as well.
It's fairly costly to break a lease! Best thing to do though would be to look up the residential tenancies mob in your state, as their websites usually have the information on them.
27-02-2012 13:13 #5
27-02-2012 13:14 #6
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27-02-2012 13:33 #10
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