BREAK LEASE

Should you wish to terminate your lease prior to the expiry date your Notice to Terminate must contain the following information:-

• The date of serving the notice
• The name of the tenant
• The name of the owner
• The premises for which notice is being given
• Details of the grounds or reasons for the notice and the date on which the notice is to take effect

If you and the owner mutually agree to end the lease term prior to the expiry date, no penalty shall apply. If however the owner is disadvantaged by your early lease termination, you will be required to continue paying rent until another tenant is found, as well as being responsible for the payment of administration and advertising charges incurred in the re-letting of your premises.

LEASE RENEWALS

Key Property Management keeps records of lease expiry dates. As a matter of course, the owner of your property will be contacted two months prior to your lease expiry date to ascertain their ongoing wishes. If we are instructed to re-lease the property, we will make contact in plenty of time for you to decide if you want to renew your lease or terminate on the due date. Clause 20(3) of the Residential Tenancy Act allows for a rent increase. We recommend you familiarize yourself with this and other relevant clauses 23 (1) and (2)(a)(b), (3) and (4).