Tenant want to end lease earlier

hmmm maybe but it depends on the PM.
sometimes the most grateful clients are the ones who have ****ed everything up themselves then value what a pm can bring to the table.

Like a hair dresser that fixes up a really bad home hair cut lol
 
I don't understand. I should be able to say all rent up until new tenant is found right? And also the advertising cost. Since it's all still in the periodic lease term.

Yes, that's what I said. All rent up until new tenant, BUT if the lease did expire (which it won't) before a new tenant is found the tenant is only liable up until the end of their agreement.

Also worth noting, that whilst there's no specific time frame that you can claim rent for (in theory you can charge the tenant 6 months worth of rent if it takes that long) you do need to ensure you're doing all you can to get the property leased, and VCAT will determine what is "reasonable".

You will only be able to charge advertising on actual out of pocket expenses.

What happens if they get funny about paying? Tribunal, bond etc..? Landlord insurance?

If they don't pay, yes, tribunal will be involved (unless you can come to mutual agreement). Another thing to note is that if the tenant does stop paying and you issue a NTV for rent arrears, the lease break provision then becomes irrelevant as the tenancy has ended by a breach.

You'll also need to handle the insurance claim, do you know whether you're covered?



Whilst a lot of the advice given has been great, please ensure you understand the laws and your responsibilities in Victoria.
 
A website some will find of use (esp. if you cover multiple states): Tenant Help - may be a bit one sided but they also have access to solicitors (for a fee, of course).

The advice on the website is state specific.
 
I had some tenants breaking lease a few years ago in nsw. They paid me 6weeks of rent. It gave me time to go in and repaint. Was rented out shortly after for higher rent less than 6wks later.

Also recently tenants signed 6months and had to break one kong in. They hadn't even moved in. Paid for rent for another 8 weeks until I found new tenants who signed for longer (8wks was due to Xmas and ny and new tenants having to give notice). Old tenants also paid for re-letting and new lease prep fees.

It's not ideal as it creates uncertainty, but sometimes you might end up with a better tenant / arrangement.
 
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