Breaking Lease thoughts and advice please

[capers1]

Hi, We've been in our rental now for 8 months and although its really nice we are starting to think about buying (have 6 months left on this lease). Would love to hear about peoples experiences of breaking a lease. Any tips would be really appreciated. Thanks Michelle

[waynecaz]

I have broken my lease twice now, the first time I had already found someone to take over the lease but the real estate still charged me $900 ( I had 6 months left ). The second one we didn't get charged anything as we had so many problems with it ( 4 months left). We have now bought!!!

I have a friend that only paid $130 to get out of hers and had 6 months left on it .... I think it depends on the agent. You can ring them and just ask how much it would be. Good luck with everything.

[capers1]

I have broken my lease twice now, the first time I had already found someone to take over the lease but the real estate still charged me $900 ( I had 6 months left ). The second one we didn't get charged anything as we had so many problems with it ( 4 months left). We have now bought!!!

I have a friend that only paid $130 to get out of hers and had 6 months left on it .... I think it depends on the agent. You can ring them and just ask how much it would be. Good luck with everything.

 

Thanks Carolyn, i need to read the extensive manual we were given i know there's a section in there about breaking the lease.

Im sure that the agents we are with will charge top dollar

[waynecaz]

It's worth a phone call, Fingers crossed they don't rip you off !!

[NicF]

Have you actually found a house you want to buy yet? If not it might take the best part of six months to find the right house and get through the sale process so it might not be an issue anyway.

[cliffy]

Most leases state that you are liable for the cost of re-advertising the house for rental and the amount of rent due until the new tenant takes over.

From a landlords point of view, we had to pay a fee to the agent every time the house was relet, in addition to this. I think it used to be the equivalent of two weeks rent.

I would start looking now and worry about the lease if and when you find a suitable place. That way you have no pressure to buy. The first place we bought took about 3 months to find, the second two weeks, and the third we had built, but took just over a year to completion.

[capers1]

Thanks Cliffy

Ive checked our lease and its pretty much like you said. We have to pay rent until new tenants are found, pay for advertising the property and pay a fee to break early.

[Guest Nata27]

Hi Capers1,

 

I just messaged you, as i could take over your lease if it would suit us.

 

Nata