We know that no tenancy is forever, and there will come a day when you decide to move on. If you’ve never ended a tenancy, here are the six most important things you need to know.
1. If you have a fixed-term tenancy and you want to terminate your lease at the end of the tenancy period, you must provide a written termination notice at least 30 days before the end of the lease.
2. If you are on a periodic lease and would like to end your tenancy you must provide a written termination notice with at least 21 days notice. The written termination notice can be a letter that you write yourself, or you can download and complete the Notice of Termination from Tenant to Lessor form that is available on the Department of Commerce website.
3. It’s important that you leave the property in the same condition as when you first moved in when ending tenancy. Pay close attention to the Property Condition Report that you hopefully completed and signed at the beginning of your tenancy.
4. If there are issues with the condition of the property, we may have to claim part of your bond to make the necessary repairs. We will advise you if this is the case.
5. We will conduct the final inspection as soon as possible following the return of the keys to our office. If you would like to present please contact your Property Manager. A copy of the final inspection report will be sent to you within 14 days of you vacating.
6. Once the final inspection is completed and all matters attended to you will be sent a final statement and the Disposal of Bond form. To complete the process, you’ll need to sign the Disposal of Security Bond form. In our experience, it takes between 10 to 21 days for the return of bond money from the time this is lodged with the Bond Administrator.
Why you shouldn’t break a tenancy early
We understand that sometimes things are out of your control and you may need to end your fixed-term tenancy early. We are happy to work with you to find a solution that works for you and the property owner, but please try to give us as much notice as possible. We need this time to find replacement tenants.
When you signed your rental agreement, you signed a legally binding contract with an end of tenancy date. If you break this contract by ending tenancy early, and we can’t find tenants before you move out, you may be responsible for paying the rent until the property is leased again, as well as other costs the owner may incur such as; advertising and leasing fees.
We’re here to help. If you have any concerns about your tenancy or you’re thinking about moving on, please get in touch with your property manager.