Change of circumstances and planning to move?
As a tenant, there’s a few things to consider before packing your bags to ensure that the vacating process runs smoothly.
Give your notice
If you intend to leave a property, providing as much notice as possible is not only a requirement of your tenancy agreement, but can also determine any costs you may be required to pay. At Prudential Real Estate, you must provide notice by using our vacating form – see the links at the top of this page.
Know your tenancy agreement
There are two types of tenancy agreement in NSW:
- A periodic lease, where the lease term (or time period) has expired or is not specified. With this type agreement you are required to provide 21 days’ written notice to vacate.
- A fixed-term agreement, where the lease term (or time period) has not expired. With this type of agreement you are required to provide 14 days’ written notice prior to your vacating date which should be on or after the expiry date of the lease (if you have reached the end of the specified term). This notice can be given up to the expiry date of the lease.
If you need to break your lease early
When you sign a fixed-term tenancy, you are committing to stay the full term. However, we understand that there are circumstances that may require you to break your lease term early. In this situation, your landlord may require you to pay ‘break fees’, a way of compensating them for financial loss of rent, advertising and/or letting costs. You can find more information on the NSW Fair Trading website
Returning your keys
On the day that you vacate, you must hand your keys into your Prudential Real Estate office. A property manager will then assist you to complete a Vacating Property Form acknowledging the return of keys and condition of the property. Be sure to return the keys by the due date, as rent will be charged on a daily basis until they are returned.
Your property manager will be in touch with you to arrange for an outgoing/bond inspection of the premises. Tenants are encouraged to be present while this inspection is conducted, as the current condition of the property will be compared with the condition at the commencement of the tenancy agreement. Any damage or cleaning required may incur a claim against your bond, however, this only occurs in a minority of cases – you can ensure that there are no deductions by reading our Bond Saver Checklist.
Once approved by the landlord, your entire bond will be returned to your bank account through the Rental Bond Board.