Stop! Before you break a lease in NSW, you MUST read this first! Breaking a lease in NSW is no joke, and many people do not know that. Before breaking a lease in the city, you need to know a few things. If you’re wondering how to end a rental lease correctly and don’t know how to go about it, you are in the right place. In this article, we will provide you with everything you need to help you break free of your fixed-term agreement without paying a break fee.
Breaking a lease NSW – things to know first
There’s such a thing as fair trading agreements. Before you break a lease in the city, you must’ve played by the rules. If not, you’d have to pay rent until your tenancy agreement expires.
Since a tenancy agreement is a legally-binding agreement that holds both the tenant and landlord into account, you must end it in certain ways. To terminate a rental agreement early without penalty, either the landlord or tenant will have to give a notice to terminate to the other party. Interestingly, the tenant has to vacate on or before the termination date to avoid issues.
Termination notice period
There is a minimum notice period for termination if you want to break your rental bond. First, you have to note that the termination notice depends on the type of rental agreement you signed. There’s the fixed-term agreement, and then there’s the periodic tenancy agreement. Each tenancy agreement has a different notice period to help both landlords and tenants to find another rental property without causing undue hardship to each other.
For domestic violence, there is no minimum period for a termination notice. On the other hand, you will have to give at least a 14-day termination notice if you are a tenant, and a 30-day quit notice if you are a landlord planning to terminate at the end of a fixed-term agreement. Additionally, you must note that a residential tenancy agreement for a fixed-term tenancy does not work for a periodic agreement.
If you have reached the end of your periodic agreement, you will have to give your landlord a 21-day notice as a tenant. Landlords, on the other hand, will have to serve the tenant a 90-day notice. Note that the end of a periodic caretaker or employee agreement mandates tenants to give a 21-day notice while landlords have to give a 28-day notice.
Doing it rightly
If you don’t want to pay rent after evacuating your apartment, you will have to do it correctly. While serving the termination notice, you have to ensure a few things are in order. First, you must ensure that your notice is not a verbal agreement. Instead, you must put your termination notice into writing to avoid issues with your tenant or landlord.
As a landlord or tenant, ensure that you sign and date the notice before serving it to the receiving party. Additionally, ensure that you include the address of the rented property to avoid any issues. Don’t forget to state the date the tenancy agreement will terminate. Also, don’t forget to state the reasons for termination.
You can give your termination notice at any time without attracting tenant or landlord breaches. Interestingly, your notice does not have to agree with the rent payment cycle. However, ensure that you stick to the rules by giving the landlord or tenant enough time to look for a new property. Ensure that you follow the appropriate procedures for serving notices to either tenants or landlords to avoid breaches.
Ending a fixed-term agreement early
If you are a tenant and you signed a fixed-term agreement, it means you established a full-term rental bond with your landlord. What this means is that you have committed to staying full-term on the property until the end of the fixed-term agreement.
There are some costs involved if you decide to move out of the property before the end of the fixed-term agreement. However, you may not pay a dime if you have the grounds to serve a domestic violence termination notice.
One thing you mustn’t forget is to give your landlord enough time to allow the agent to show the property to potential new tenants. You have to give enough notice since advertising costs are quite high and getting prospective tenants might be difficult.
People also ask
How to break a fixed-term tenancy agreement early?
Most people don’t know how to break a lease. You can break your tenancy agreement early if you’ve accepted a social housing offer. Alternatively, you could break a fixed-term agreement without attracting any penalty fee if you need to move into an aged care facility. If the landlord happens to put the property on the market for sale while you agree, and you were not informed before signing the tenancy agreement, you will not pay any penalty. Another way you can escape the penalty fees is if the property has been listed on the Loose Fill Asbestos Insulation Register. Such cases do not require you to apply to the tribunal.
How to end a rental lease
The most appropriate and common way to end your rental lease on a rental property is to provide the notice as stipulated by Australian law. You must give the recipient as much time as possible as directed by the law.
Where to find rental properties
Several outlets or agencies have the best rental properties in Australia. However, if you do not know where to start, you can always check out this link to help you discover the best Australian rental properties.
