Rental question

[Becks22]

Hi

 

we are coming over for good in July and plan to rent initially. However, we have sold our UK house (complete next week) so will have funds for when the time is right to buy a property. I've noticed a lot of people post their lease breaks. Is that because it is silly expensive to break a lease over there? I know it can cost here in the Uk but I dont think its huge sums of money, I could be wrong having not rented for over 12 years! Just trying to think about what to do with our money and whether getting a 12 month rental is signing our life away when it is possible after 6-8months we will be ready for our own home? Thanks in advance for any rental advice!

[Tamara (Homes Down Under)]

Hi Becky,

It is very common for people to break leases. Dare I say "especially Brits!" As you say, plans change and everything from a change in jobs, return to the UK, realizationtion that the area is wrong etc all leads to a change of living requirements.

It's very uncommon for 6 month leases here. It would likely suit many arrivals to have a 6 month lease with an option to renew as this would provide better flexibility but that's not the case. Landlords and agents prefer 2 month ones.

There are some horrendous costs that can be levied on a broken lease. The contract is not written with flexibility in mind. I had a family who moved here, signed a 12 month lease but decided that they had made a wrong move and before their container arrived decided to return to the UK. They had signed a 12 month lease. The costs that they incurred for readvertising and for for breaking this lease cost them a lot of money. I don't think that the agency was in any hurry to get a new tenant as they were liable for all the costs and they ended up a few thousand out of pocket.

When you see a lease break on here you don't actually take over that lease. You still have to sign a totally new lease but the original tenant will not be charged the costs for advertising to get a new tenant.

 

I think that when you are looking to buy a home the problem comes in when you start house hunting and find the ideal place. You still have months left on your lease but you want to get out of it because you don't want to lose the house that you have found = expensive lease break!

[Becks22]

Thanks Tamara! I could have just emailed you in hindsight!