Early Termination Of Lease (‘Break Lease’)
When you sign a fixed term tenancy lease you are committing to stay for the full term. If your circumstances change and you want to move out before the end of the fixed term, there are costs involved and a break lease fee to pay.
Break fee
The break fee is a penalty you agree to pay if you move out before the end of the fixed term.
If the tenant ends the residential tenancy agreement before the end of the fixed term of the agreement, the tenant must pay a break fee of the following amount if the fixed term is not more than 3 years:
- 4 Weeks rent if less than 25% of the fixed term has expired.
- 3 Weeks rent if 25% or more but less than 50% of the fixed term has expired.
- 2 Weeks rent if 50% or more but less than 75% of the fixed term has expired.
- 1 Weeks rent if 75% or more of the fixed term has expired.
