Every now and then situations change, and you may need to relocate from your current home. If this has happened to you and you need to leave your rental property prior to your lease agreement coming to an end, it’s not the end of the world. The most important thing is you work with your property manager and landlord to get the best outcome for everybody, so you avoid tarnishing your rental reputation, when you’re looking to break lease.
In short, you can break your lease agreement and move out earlier. It is not something we suggest to everyone, but in certain circumstances, other solutions need to be put into place. To do so, the agent will have to start looking for a new tenant to take your place. There’s a few things that will happen in this time and your cooperation is paramount for a smooth transition.
Firstly, you must maintain paying the rent until the new tenant is found and paid forward bond and first month rent. Ensure that you don’t fall into arears, otherwise not only will the agent explain to future property managers or landlords that you broke lease, but you will also have unpaid rent or arrears against your name too. It’s already hard enough to secure a rental with a clean history, so don’t do anything that will jeopardise your future chances.
You may have to pay for the advertising of the property. It’s usually only a few hundred dollars, though because your are technically the one trying to get out of your binding contract, you must facilitate where you can and help the process along. The quicker you get your head around the few expenses and get things started, the quicker you’re on to the next phase of your life
Make sure you accommodate your agent, all inspections, private and open, and ensure that the property is kept tidy, clean and well maintained. Presentation is key for the next tenant to fall in love with the property. The more you can help with the presentation of the property, the quicker a someone will want to kick you out to have it all for themselves.
In the end, be upfront and honest about your situation, accept what needs to happen to get out of your bind and work towards a common goal together with everyone involved. It may not necessarily be ideal or even a cheap process, but believe me, it’s worth making the small investments of money and time to have a smooth transition, then tarnish your reputation because you needed out.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.