Ending an agreement early (breaking a lease)
If you wish to end a fixed term agreement before the end date without grounds (i.e. without sufficient reason) you are breaking the agreement. This is also known as breaking the lease.
A tenancy agreement is a legally binding agreement. If it is broken, compensation will need to be paid. When considering breaking your lease you should note the following:
1 You will be required to pay a break of lease fee, this equates to one (1) weeks rent plus GST & is payable within seven (7) days of receipt, by us, of the form 13.
2 All obligations under the terms of your lease continue, for example:
a. You MUST continue to pay rent & remain in advance until a new tenant is found
b. YOU MUST continue to keep the property neat and tidy inside & out
c. For clarity you remain completely responsible for the property until a new tenant is found and will be required to have the property cleaned upon vacating as per your lease.
3 We will need to be able to show your home to prospective tenants, advertise it online and may also need to place a “for Rent” sign at the front of the property.