Melton Thinking about moving, but need to line it up with the end date on your lease?
Trying to time a move can be tricky at the best of times, but needing to move by an exact date can make things a little more complicated.
Depending on your circumstances you may have a number of options available to you, which will make juggling your move easier.
Get organised before your lease runs out
It’s a good idea to start looking for your next home well before your lease runs out.
If you’re looking to purchase a new home then be prepared for it to take some time. It can take months (or years in some cases) to purchase a property, so the sooner you start your property search the better.
It shouldn’t take quite as long if you’re simply hoping to find another rental, but regardless of where you’re moving to next you should give yourself plenty of time for house hunting so you’re not left scrambling to find new accommodation at the last minute.
Ask for shorter lease periods
If you want to stay on in your current property once your lease is up but know that you will need to move on soon afterwards then chat to your property manager about your options.
There’s a chance that your landlord would be happy to accept a shorter-term lease than the one you’re currently on, or perhaps let you stay in the property on a month-to-month basis.
Keep in mind however that your landlord may be able to raise your rent if you’re not on a fixed-term arrangement.
Know what’s involved if ending a lease early
You can leave a property before its lease is up, but it’s important to be aware of the consequences of doing so.
You may still be liable for rent until your lease is up, or at least until new tenants can be found to take your place.
Other costs may also be associated with breaking your lease early such as advertising costs, reletting fees or a break lease fee, depending on the rules in your state or territory.
Everybody’s situation is different so the best thing you can do is talk to your property manager and let them know what your plans are.
They will be able to let you know what options are available to you and give you the best advice for managing your move. It’s also worth checking the tenancy legislation in your state so you know what rules might apply to you.
