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Giving notice to move back into IP

Discussion in 'Property Management' started by JesseT, 15th Sep, 2016.

  1. JesseT

    JesseT Well-Known Member

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    Hi folks, just hoping for a little bit of clarification about giving notice to our tenants in our PPOR currently IP (NSW)

    The situation is we hope to move back in ASAP but we are waiting until a position opens at a different branch of the company I currently work for, so that I can transfer.
    It is difficult to say exactly when this could happen although I think it will be over the next few months.

    As it is quite far from where we current live, we would want to move into the PPOR as soon as possible.

    End of lease date is 21st October, my understanding is that I must provide 30 days notice prior to this date.

    I then plan to go periodic after this date so that we can provide 90 days notice.

    How much notice is required if I gave notice in the 30 days leading up to end of lease date?
    (Prior to going periodic)

    Is there any other options which may be better suited?
    I plan to also waive any charges for leaving prior to the required date.

    Thanks!
     
  2. Azazel

    Azazel Well-Known Member

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    It may be unethical, but it happens, could be some more options with "putting it up for sale".
    Not a recommendation, it's happened to me before.
     
  3. SK Investments

    SK Investments Well-Known Member

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    I think if you give notice during the lease period it would still be 30 days. You must allow for the extra days for postage etc though, you probably couldn't just give it on the last day of lease.

    If it looks like you'll be rolling into periodic, think about a 3 month lease. The advantage being that if you are say 2 months in, you can just give the 30 days notice to leave rather than having to give 90 days.

    Another option would be to give a longer notice period while the lease is still current, 60 days for example.

    Also bear in mind that if you are periodic the tenant can normally give 2 weeks notice if they want to leave early at any point during your 90 day notice period (after you have issued them notice to leave).

    Hope that helps.
     
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  4. JacM

    JacM VIC Buyer's Agent Business Member

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  5. bob shovel

    bob shovel Well-Known Member

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    I'm confused when you want to get in

    But your post was pretty much correct. Within lease is 30 days notice. After lease date (periodic arrangement) is 90 days and they can leave any time with no notice required -They can just drop the keys off, on day 1 or day 90
     
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  6. SeafordSunshine

    SeafordSunshine Well-Known Member

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    Dear Jesse T
    to give notice, in writing ,30 days plus 4 days , Certified mail, get a copy of the 'received receipt' .
    professional and legal.. nothing can 'come back to bite' you that way.
    I hope this helps
     
  7. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Hmmmm I could make something up if you like :)

    I'm not a PM guru - might have me mistaken for someone else :)

    Cheers

    Jamie
     
  8. JesseT

    JesseT Well-Known Member

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    I want to get in whenever I manage to get the transfer, this will be short notice, maybe 2 or 4 weeks so I will need to find my own accomodation until I get back into the PPOR.

    Haha I'll be using your service AFTER I get into the PPOR Jamie
     
  9. Terry_w

    Terry_w Structuring Broker and a Structuring Lawyer Business Member

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    I just did this in NSW. Gave 90 days notice, but tenant could leave at any stage and they moved out after about 30 days.
     
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  10. Scott No Mates

    Scott No Mates Well-Known Member

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    Also seen instances of 90 days notice being extended (close to Christmas, illness etc).
     
  11. bob shovel

    bob shovel Well-Known Member

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    Ah ok. Best to give notice asap then let them no they can leave earlier with no cost to them as you mentioned. Sounds like a good deal
     
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  12. JesseT

    JesseT Well-Known Member

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    Thanks for the input everyone, SK raised a good point that I may be better off in a 3 month lease.

    It's always going to be less notice than The periodic lease, just may spook the tenants to leave at the end of it.
     
  13. dabbler

    dabbler Well-Known Member

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    May spook them asking for it, that short length that is.
     
  14. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Just had a similar situation, however I wanted to extend a lease by a few months that ends just before Xmas . I gave the option to tenants about 40 days prior to end of the lease and framed it this way.

    " I know it may be difficult and troublesome for you to find a new place right at Christmas time so to help you out I am happy to extend the lease past Christmas to give you more time, and you just sign for the 3 months extension".

    They were very happy, I was happy. Win win.

    In reality, if they still wanted to leave, I would have halved the rent for them to stay on a few more months anyway. Wouldn't have been able to find tenants for those few months so getting half rent is better than none. But it was a win win nonetheless.
     
  15. Xenia

    Xenia Best Adelaide Property Manager Business Member

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    If you are offering a periodic lease then there is no notice to give them.
    You just offer them a periodic lease. You are not terminating the lease from my understanding.