Can I Get Out Of My Lease Agreement?
So…. I changed my mind – can I get out of my lease agreement?
The short answer is yes… But it’ll cost you.
General Tenancy Agreements are a legal and binding document, and are not that easy to get out of simply because you have changed your mind.
If you have signed your contract for the rental property and paid the bond, the stipulations in the contract are binding and you will need to check the conditions of your lease.
Most agencies attach an Annexure and in this document it will advise the correct procedure to Break the Lease.
This is effectively what you would be doing. Most agencies will claim from the tenant a Break Lease Fee that will cover, for example their advertising costs, new lease preparation costs, and a Let Fee.
These charges will be contained in your lease document and attached Annexure. All these charges also incur GST. These fees could be taken from your Bond.
While the agent is trying to find a new tenant, you may be responsible for paying the rent until a new tenant is found and approved.
Contact us at Arrive if you have any further questions!