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How much does it cost to Break Lease?

How much does it cost to Break Lease?

Old Jan 17th 2011, 12:11 am
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Default How much does it cost to Break Lease?

We're out of lease in our current place and planning to move. As we'll probably sign a longer contract on the next one just wondered if anyone can advise how much it costs to find a new tenant should I get a job elsewhere or need to move again for any other reason.

I appreciate it depends on how long it takes but how much does an EA charge to place one ad on Domain & screen one lot of tenants?
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Old Jan 17th 2011, 12:53 am
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Default Re: How much does it cost to Break Lease?

Hi freebo,

You will basically be responsible for the rental payments until a new tenant is found and any costs incurred as well, eg most agents charge the landlord a fee like half a weeks rent for every change of tenancy plus new condition report. Suggest you enquire with your agent before you sign a new lease - its a perfectly legitimate question for you to pose them.
Shouldn't be too expensive if you are in Sydney given demand!
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Old Jan 17th 2011, 7:14 am
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Default Re: How much does it cost to Break Lease?

Cheers, that's roughly what I was expecting.
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Old Jan 17th 2011, 10:06 am
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Default Re: How much does it cost to Break Lease?

Originally Posted by freebo View Post
We're out of lease in our current place and planning to move. As we'll probably sign a longer contract on the next one just wondered if anyone can advise how much it costs to find a new tenant should I get a job elsewhere or need to move again for any other reason.

I appreciate it depends on how long it takes but how much does an EA charge to place one ad on Domain & screen one lot of tenants?
We were told we were responsible for the rent until a new tenant was found + one weeks rent, but as rentals were in short supply we only ended up paying the one weeks rent
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Old Jan 17th 2011, 11:37 am
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Default Re: How much does it cost to Break Lease?

We broke lease this morning and within 2 hours they had found a new tenant. We were told we would have to pay rent until a new tenant was found and the GST on the advertising costs. (Victoria - which would have worked out to $57.00)
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Old Jan 17th 2011, 11:14 pm
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Default Re: How much does it cost to Break Lease?

just wondering if it acceptable to find a new tennant yourself to take over the lease
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Old Jan 17th 2011, 11:20 pm
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Default Re: How much does it cost to Break Lease?

Originally Posted by Margaret3 View Post
just wondering if it acceptable to find a new tennant yourself to take over the lease
You can find a new tenant, but the real estate agent/landlord would still need to approve them as normal.

Cheers

Steve
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