Notice to Vacate.

Hi PM's.

If I needed to personally occupy an IP what Period of Notice is required to give the tenant to Vacate? The property in question has just had a fresh 12 month lease signed effective 13/07 unfortunately.

 

Just as you would hold the tenant responsible for the term of the lease, so are you responsible.

As the new lease hasn't commenced, 13/7 the tenant may not wish to exit early so you may need to offer reasonable compensation for relocation costs, rent differential etc to entice them to break the agreement.

 

You must respect the lease. You may be able to negotiate with the tenant to leave early, but a financial incentive would probably be necessary.
Marg

 

Thanks guys. As I thought. Back to rentvesting it is.

 

Check with your PM. In Victoria I think you can give 120 days notice to vacate without giving a reason.

 

Is the new lease valid if prior to the start date ?

 

I'm in QLD.

 

Lease is valid. @Andrew Hancock will know the notice period.

This is actually incorrect. You can serve a 120 day notice without giving a reason, but not during a fixed term lease agreement. This holds true even if the lease hasn't commenced just yet, but is signed. There is a provision here for an owner to apply to reduce the length of the tenancy, however VCAT needs a solid reason why the landlord would be at greater loss than the tenant should the tenancy continue.

 

Two months without grounds on a fixed term lease.

See here for all applicable notice periods.

 

Yeah but for a fixed term tenancy - the two months notice is only to terminate at the end of the fixed term.

 

I had a work colleague on the other end of this situation.
Agent signed a new lease and the landlord changed his mind and seriously wanted to move in about 2 weeks into the 12 month term. Ended up negotiating a cushy payout (about 50% of the year's rent that the tenant) for the ability to mutually terminate the lease. A mini lotto win for that colleague... bizarre decision by the landlord but I guess if she/he wanted it bad enough, there's a $$$ to match it

 

Correct, the original poster said he had just signed a fixed term 12 month lease. Therefore he needs to provide two months notice prior to the end of that fixed term, without grounds, that the tenant is required to vacate at the end of the lease. You can't break the fixed term lease as the landlord.