I would like some feedback/advice from any real estate agents or anyone experienced in breaking a lease agreement.
We are the middle of a twelve month lease and would like to break it.
We have seven months left on our lease.
We intend to do the right thing and provide written notice next week. Our plan is to give them a decent amount of time – 8 weeks – and allow inspections without proper notice.
However, the advice we have received has been conflicting.
What do you do when a tenant notifies you that they want to break their lease?
What are the considerations we must take into account?
Thanks so much.
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10-12-2013 18:43 #1
A break lease question for South Australian Real Estate Agents and Renters
10-12-2013 19:04 #2
I'm in SA and I broke a lease with about 8 weeks to go.
We had to pay advertising costs (came out of our bond) and the new tenants negotiated $10 less a week than we were paying, so I had to pay the $10 difference for the next 8 weeks (also came out of the bond).
I think there were a couple of inspections as well.
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10-12-2013 19:16 #3
When we first moved to SA we rented a place for awhile and had to break the lease. We had the rent until it was re-letted which took 6 weeks, advertising fees and management fees which was equivalent to 2 weeks rent.
Here's the formula they work it out from
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10-12-2013 19:48 #4
I believe they are obligated to lease the property out to acceptable renters as well. They can't just leave you hanging and paying the lease if there gave been appropriate new tenants.
Ring the tenancies bureau and get some advice.
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10-12-2013 20:08 #5Junior Member
- Join Date
- Dec 2013
Hello! I'm a Queensland property manager so the laws may be a bit different where you are (I wish they'd make one set of laws for every state!) but here's some friendly advice.
Great thinking on giving 8 weeks' notice. We love when tenants do that. Then the owners have plenty of time to get their heads around it instead of the tenants dropping a bomb on us the week before they go! (And then we often get the unscrupulous characters that just move out and stop paying the rent even though they're liable up until we find someone. Lovely.)
My advice would be to have a clear vacate date in mind because it's a real pain in the bum when tenants say "Oh we'll stay until you find someone." Well, how do people know when the place is available to move into, if we don't know when you're going? Also be prepared to be flexible with letting the agents show people through. They need to work with you and give the appropriate notice and stuff, but the first question we get from prospective tenants when they enquire about the property is "When can we view?" And people these days aren't prepared to wait very long to view a property - they'll just find something they can see straight away. In the long run it'd work to your advantage as the sooner you can get prospective tenants through - hopefully, the sooner you can get the place rented so you can move on.
You would be liable for the rent up until the day before a new tenant moves in, and up here we also charge the tenants a break lease fee (a week's rent + GST) which covers advertising costs and things like that. We usually do a pro-rata amount depending on how long is left on the lease.
I'd also recommend advertising the property yourself on something like Gumtree (which is free) and then pointing the people in the direction of your real estate agent for application forms so the agents can process them and take them to the owner for approval. The agents will advertise on realestate.com.au or Domain or their own website (or all of the above, not sure), but I often suggest it to tenants especially if the house is in an area that's hard to rent. That way they're helping themselves as well.
Anyway, hope this helps and feel free to get in touch if I can be of any further help!
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