Raine & Horne Wagga Blog

What you need to know when breaking a lease.

Breaking your rental lease. Here is what you need to know.

The legislation through NSW Fair Trading has changed as of 23rd March 2020, which means the procedure for breaking your lease has also changed.

If you are considering breaking your lease, it is important to give us at least 21 days’ notice, unless you are moving into housing or an aged care facility (only 2 weeks in required) You must also complete our ‘Notice to break lease’ form in order to finalise your notice.

If your renewal OR new lease agreement was made after 23rd March 2020, there is a percentage fee to pay if you break your less at a certain time of your fixed term agreement. For example, if only 25% of your fixed term lease agreement has expired at the time of your break lease notice, you are required to pay 4 weeks rent.

You are also viable for the property and are required to maintain and clean the property to ensure a satisfactory condition, until a new leasee has been located – keep in mind, a break lease is one of our highest priorities and we will do everything we can in that time to locate a new leasee ASAP.

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