Renting

[Johno6]

Hello,

say you are renting and you have a 6 month lease, but you are moving and wanna move out before the 6 months is up
what happens, what fees/costs do you pay with breaking the lease etc?

any help appreciated, cheers

[A Mum]

May have changed - but as far as I know...

You are responsible for all rent for the remaining 6 months or until the time that someone moves in to take your place.
You are responsible for any advertising costs to get someone in there.

[Johno6]

ffaaaarrrkkk

[A Mum]

With so many people looking for rentals/place to live though Johno - they should be able to fill it pretty quickly - I think these days they even have people on a 'waiting' list.

[Brodlach]

Someone from my work got out of a lease that had 5 months left last October, a new tennant had to be found before he left otherwise he was still responsible for the weekly payments. He found someone quickly (only took one ad in the paper) and they moved in 2 weeks later. Still had to pay a "lease termination" payment of 2 weeks rent.

[Johno6]

this is gonna be a nightmare

[stampy]

shouldnt be johnno, like mum said with the amount of people looking for rental accomodation there shouldnt be a problem

[Johno6]

i bloody hope so.
im moving out 4 weeks housemate in 2 weeks.

[Booney]

Speak to the land lord Johno and ask them to set out the feelers for a new tennant as you may be looking to leave shortly...

A lease is not that rigid and if you need some further advice pm me.

[mick]

I've been a landlord for about 20 years, as I understand it if you break the lease, you are responsible for lost rent, but I believe that the liability only extends to the bond amount. Say your bond = six or four weeks rent, say it takes 2 weeks to get a tenant, the landlord can rightly deduct 2 weeks rent plus advertising and other costs involved in getting a tenant. If the place was empty beyond six/4weeks weeks, the landlord may be able to sue for the additional lost amount. I doubt that they would, going to court is extremely costly.

I would negotiate with the landlord to find a new tenant, this means you advertise, find the tenant, the landlord will probably want to "vet" the tenant, but if they approve, it will only cost you the price of the advertising. I have come to this arrangement with tenants in the past and everybody is happy. As stated above, there is currently huge demand for rental accomodation, however the number of "good" tenants is limited, I reckon you should be able to get someone decent in 2 weeks. If you let the landlord find the new tenant, he may simply take his time until your bond is all used up and not worry too much advertising will cost. So it's best to be proactive!

[Big Phil]

If you don't mind me asking Johno, what area is the place in, how many bedrooms and how much a week is it?

My brother and his fiance and currently looking for a place to rent...

Just let me know via PM mate and I'll speak to my brother...

[mighty_tiger_79]

we broke out rental when we purchased our home

we had 4 months remaining

we were responsible for rent etc, but we held an open day in which over 30 people rocked up, including the neighbour. got everyone to fill out the forms and then sent them into the agent

as has been mentioned with the tight rental market at the moment you wont have any issues in finding people

[Sheik Yerbouti]

I've been a landlord for about 20 years,

Owning a string of dos buildings down the Port is drawing a long string calling yourself a landlord. Slum Baron maybe.

[gadj1976]

Hello,

say you are renting and you have a 6 month lease, but you are moving and wanna move out before the 6 months is up
what happens, what fees/costs do you pay with breaking the lease etc?

any help appreciated, cheers

Johno, first thing - talk to the agent.

Could be many scenarios but would all be speculative unless you know the facts.

From a tenancy perspective, you signed on for 6 months, so you are responsible (or whoever signed the document) to pay that agreed rent for 6 months. But you can sublet it and the costs of subletting it would be costs that you have to pay for. The agent will then redo the tenancy agreement and away you go.

Best case scenario, the market rate has increased and by you staying there, the landlord is missing out on rental income. He/She might want you to leave to thereby allow them scope to up the weekly rate. You just don't know till you ask.

I was in the situation where I was a landlord and hadn't put the rate up for years due to my tenant being very good. He decided to move back to Melbourne, and break the existing lease. I said "no worries" and then increased the rate when it was advertised, found a tenant and was better off in the long term. A win-win as you could say.

So it really depends on a lot of things.

Best of luck.

[Bully]

if you can find someone to take over the lease for the remainder of the time you signed that suits the owner you dont need to pay squat. they will refund your bond or ask there person who is taking over the lease to pay their bond to you so u get some back.

[mick]

I've been a landlord for about 20 years,

Owning a string of dos buildings down the Port is drawing a long string calling yourself a landlord. Slum Baron maybe.

Pete, "the slum" I own is in the same council area you live in