Help! I need to break my lease!

The Gold Coast has turned up the heat on break leases since the boarders came crumbling down! Understandably many tenants needed and wanted to move, and this resulted in several break lease situations.

So, what is a break lease and how is it handled?

When you sign a tenancy agreement this is a binding contract and, if you need to leave this agreement before the end date without grounds, we call this a break lease. It is in this case that compensation is likely required to be paid.

The RTA explains the process and requirements of the tenant and lessor:

Always inform the property manager/owner in writing of your intention to leave. You will be required to complete and return a Notice of intention to leave (Form13).

You may be asked to pay:

• reasonable re-letting costs (usually 1 week’s rent plus GST)
• reasonable advertising costs (if incurred), and
• compensation for loss of rent (until a new tenant is found or until the end date of the agreement - whichever happens first).

The property manager/owner is legally required to minimise any costs associated with breaking the lease. If you feel they are not mitigating this loss, contact the RTA for assistance.

New legislation has provided some relief to break lease laws to support persons experiencing domestic violence. Click here to see the current flow chart provided by the RTA which outlines what the tenant needs to do to end the lease due to domestic violence.

If you need more information on break lease situations, please feel free to call our office to speak with an experienced property manager!

1300 20 55 70

DISCLAIMER - The information provided is for guidance and informational purposes only and does not replace independent business, legal and financial advice which we strongly recommend. Whilst the information is considered true and correct at the date of publication, changes in circumstances after the time of publication may impact the accuracy of the information provided. Property Boutique will not accept responsibility or liability for any reliance on the blog information, including but not limited to, the accuracy, currency or completeness of any information or links.