The asking rates of Perth rental properties have declined sharply over the past few months and the number of properties for lease has more than doubled. As a result some tenants may decide to research other options.
We understand that you may be tempted to find another property but we want to warn you of some of the possible negative outcomes associated with breaking your lease.
- Moving out of premises before the scheduled departure date is a breach of the rental contract you agreed to.The rental contract is a legal, binding document that is used to protect both you and the property owner.
- The owner of a rental property is entitled to be ‘no worse off’ as a result of a tenant breach. Under the Residential Tenancies Act you may be liable for costs incurred which result from your break lease, including paying rental income for the property until it is re-let and advertising costs for finding new tenants. These costs can add up, especially if it takes a long time to find new tenants.
- You will also be required to maintain the property even if you have already vacated the premises.
Property owners and property managers know that situations change and that break leases are part of the parcel. We’re here to help. If you’re considering terminating your lease early please get in touch with your property manager immediately. We will be more than happy to discuss your options