We understand that there are any number of reasons why a fixed tenancy agreement may need to be broken. It can be a stressful period for tenants, as decisions are made quickly and often with little understanding of the impact of breaking a fixed tenancy.

Here are a few points to consider if you are thinking of breaking a fixed term tenancy earlier than the agreed end of the tenancy.

You will likely be asked to pay:

The re-advertising and any administration costs to find a new tenant.
The rent until a new tenant is found and in place at the rental property.

The new tenant will likely:

Be required to apply to the property manager or landlord to take on the tenancy.
Be reference checked and then reviewed by the owner of the property, before a break lease will be granted.
Remember: The landlord does not have to accept the new tenant.

Often finding a new tenant will take a longer than expected, be prepared for this outcome.

Our best advice is to read your Tenancy Agreement closely. Then contact your landlord or property manager to start the process. If you do find potential tenants to take over your tenancy, be sure to get them to apply through the Property Management company.

Home & Co Property Management. Nobody knows the Wanaka rental market better.