The property mustn’t be left without notifying your property manager – this will likely result in the loss of your bond and could also create a bad rental history record, which may make it more difficult for you to rent again in the future.
Lease break penalties apply under the Residential Tenancy Agreement (clause 42). You are obliged to make the following payments:
- Rent until vacate date (which is taken as the day the keys are returned to our office).
- Lease break fee equal to six weeks’ rent if the lease break is in the first half of the fixed term period, or four weeks’ rent if the lease break is in the second half of the fixed term period – If your lease was signed before the 23rd March 2020
- If your lease was signed after the 23rd March 2020, then a sliding scale applies 4 weeks rent if less than 25% of the lease had expired.
- 3 weeks rent if 25% or more but less than 50% of the lease had expired.
- 2 weeks rent if 50% or more but less than 75% of the lease had expired.
- 1 week’s rent if 75% or more of the lease had expired.
Click through to read more about breaking a lease.