Ray White Urban Springs

Page 15 If you wish to sign a new lease Your PropertyManager will contact you near the end of the tenancy to discuss signing a new lease. You will be advised if there will be a rent review and if the rent is going to change you will be advised of the new rental amount prior to signing a new lease. Expiry of a fixed term tenancy Unless a new lease is signed or you vacate the property prior to or on the date of expiry of the lease agreement, a fixed term tenancy continues on after its expiry. It continues on the same terms and conditions as the original lease however it becomes a periodic tenancy. In order for all parties, tenants and owners, to be sure of their situation, we endeavour to have tenants sign a new lease at the expiration of the original one, rather than have the lease roll over to a periodic agreement. We will contact you prior to the expiration of your lease to discuss your options with you. If you know that you do not wish to renew the lease and will be leaving the property, we ask as a courtesy that you advise us as soon as possible. Break lease/ending a fixed term tenancy before the expiry date A fixed term tenancy cannot be ended before its expiry date unless there is written agreement between the tenant and the owner. The owner/s are within their rights to refuse permission to break lease. If the owner does agree to early termination of the lease agreement, the tenant is required to refund the owner’s costs to find a new tenant as well as rent and maintenance of the property until the property is re-let. Grounds for breaking lease include: • Your job requires you to move • You are made redundant • Personal or family illness • You are being subject to family violence The purchase of a property is not a legitimate reason to break lease. Department of Commerce/Consumer Protection can provide further information and can be contacted on 1300 30 40 54 Specifically, if you wish to break your lease and the owner agrees in writing, you can expect to be liable to pay: • Rent until the property is re-let • Advertising costs to re-let the property • The unused portion of the owner’s letting fee • Any costs to maintain the property until it is re-let, including care of the property and gardens and maintaining the supply of services such as power to the property Breaking your lease can be a costly experience and we encourage you to contact the PropertyManager to discuss your options should you feel that you are unable to continue with the lease. It is also a permanent note on your tenant record. Ending a periodic tenancy You can end a periodic tenancy by giving at least 21 days notice (in writing). The Owner may end a periodic tenancy by giving you at least 60 days notice in writing. The notice period can be reduced to 30 days if the property is “under offer” (has been sold). Notice to vacate (fixed term tenancy) If you intend on vacating at the end of your fixed term tenancy, please ensure that a minimum of 30 days written notice is given to your PropertyManager to coincide with the lease expiry date. Failure to provide the appropriate notice may result in additional rent being payable.