1 Answer

askguru expert
Hi JJ, thanks for writing to us on AskGuru.

A tenancy agreement protects both the landlords and tenants whereby there are terms and conditions that both parties must abide to during the rental period. This is to prevent any disputes from both parties.

When a tenant signs a tenancy agreement, you have an interest in the property giving them exclusive possession for a fixed period of a certain duration, usually in consideration of a payment termed 'rent'.

The essential features of the tenancy are as follows:
- Tenant has exclusive possession of the property.
- Tenancy runs for a certain or fixed period of time.
- Landlord’s rights are subject to the tenancy.
- Landlord has reversionary interest of the property upon termination of the tenancy.

1. Should you terminate the lease prematurely, you will have to compensate the landlord for the remaining unused lease term. This is unless you find a replacement tenant via a process called a novation.

A novation is whereby you find another tenant. In this case, a new contract is substituted for an existing contract by agreement of the parties. This can happen between the original parties themselves only and it may also happen between the original parties (existing tenant) and a third party (new tenant). Let's say you still have 6 months more before your tenancy agreement expires, then the new tenant may take over the lease. If you have been paying $2,500 and the new tenant takes over the lease at $2,400, you have to pay the difference of $100 to the landlord. You will have to pay for all marketing costs, agent's fee and so on.

2. Yes, this is a common practice to show you have been up keeping the property.

3. Yes, a tenant will have to bear the cost of the chemical wash. This should be done once every 3 months with receipts kept as proof to your landlord.

Our advice is for both parties to resolve any issues amicably as breaking a lease will be a costly affair.

Hope this answers your question.

Best Regards,

Team PropertyGuru Read More