Two questions for PM's.. or anyone who knows the answer I have a leased signed till October 2017, if you and the tenant mutually agree to finish the lease before this date, what are the penalties? Do you need to pay off the PM or are break costs involved? Also, does landlord pay for the water consumption? or is this the tenants responsibility? I'm getting the full water bill deducted from my rent? (WA)
What's the reason for doing this? Some context might help. Remember lease and management contract are 2 different documents. Severing one doesn't necessarily affect the other - refer to management contract on notice periods required and any financial responsibilities involved. It varies per state. What state is your rental property in? Here in SA we deduct the whole water bill from the rent then invoice the tenant for their portion. See my tenancy tip for more info : Tenancy Tip Thursday - Who pays water?
Reason being is the sale of house, they handed in their notice but we convinced them to stay...but now I want to sell so I think they would agree to finish the lease early anyway. Just want to know what the complications are. Also I am based in WA, so if you are invoicing them for their portion is this credited back into the landlords account?
