Hi everyone
Hopefully this question won't sound too basic. We have had our first ever tenants in our NSW IP over the last year and their 12 month fixed term lease is due to expire on 7 April 09. It seems fairly certain that our tenants will vacate on this date, as they have been building their own home and it is ready to move into. At this stage I have not heard from our PM at all. What is the normal course of events at the end of a fixed term lease? What should my expectations be of our Property Manager at this time? Eg. giving/receiving of any relevant notices, conducting final inspection, release of bond money, advertising for new tenants etc… Any advice would be greatly appreciated.
Thanks
Angela
Ring your PM and ask them to find out whether Tenants are leaving or going to go on a month by month basis for their rent.
I would want to know if I was you if they are leaving on April the 7th for the purposes of advertising for a new tenant .
You just advertise that it isn't available until a certain date before they have physically left.
Not sure on NSW tenant requirements as I am in VIC.If they intend to leave at the end of the term, they are required to give the agent 21 days notice (from memory, but check the lease). The agent should be proactive however it usually pays to give them a prod. As the tenants are building their house, leaving is a given, the timing is dependent upon the building being finished, so holding over may be likely.
If they do hold over, then you will need to give 60 days notice if you are putting in a new tenant.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
