change lease to rental

[macklin]

We have a lease at the moment which has 5 months to go, when this lease has expired can i change from a lease to weekly rent for the same property. My reason is as follows in six months time we will be able to get another house far cheaper, however we wish to stay in the same house to avoid moving and bond costs, then when the other house is available give the present estate agent the required notice. I am fully aware that if we break the lease now we will have to pay costs for the remainder of the term.

In other words when the lease has expired we then ask the estate agent to change from lease to weekly/fortnightly/monthly rent for the same house enabling us to move without incurring any costs. SO can this be done.

( we have been there for 4 years and the owner has increased the rent once and we are aware he is going to increase again this is taking us beyond our limitations)

Thank You

John macklin

[Optimark]

Basically a lease can be any length of time the two parties agree to.

There is a possible downside to your request, if you make the lease arrangement for say 1 month, or fortnightly, then you may find there is a probability that the Landlord could decide to move you on and he/she only has to give you minimum notice, which may be as little as one month or fortnight, which would be the length of the lease.

If you have been there that long, I would suggest, if possible, that you mention that you are going to move on in the not so distant future and could you have some flexibility in your new arrangement.

We lease out property, after one year, we tell tenants that we do not require a long lease, it will just be monthly from now on. This allows them maximum flexibility and ensures we have our property leased more or less to the best advantage for both parties.

We have never had abuse from any tenant with this policy. Our agent thought it was a brave move on our part a decade ago. As he knows the reality of tenants getting either itchy feet or wishing to move on, rather than signing another 1 year lease better than many landlords, he has suggested this set-up to a couple of other landlords, apparently it has been successful.

I would assume you are on good terms with your agent/landlord, if so, then it shouldn't be a problem.

There are a myriad of laws and by-laws concerning tenants and landlords. Whilst there are some things you are not allowed to do and some things you are, everyone, both the landlord and the tenant bend outside these arrangements often, especially when it works out best for both parties.

You may have a bugger of a landlord or agent, so be careful.

Good management and maybe a little luck.

Mick.

[macklin]

Thank you for your reply.

The rent is paid automatically by internet and indeed we are in advance by 1 month, we have asked for repairs to be done and they have been done almost immediately. SO as you suggest we may come to an amicable aggreement.

Thank you once again for your reply

J. Macklin

[snowyskiesau]

Unless the landlord or tenant insists, there is no need to renew a lease at it's expiry. If not renewed, then tenancy reverts to week by week (or at some other time period as agreed). For example, the lease on my current residence was for 12 months reverting to a fortnightly tenancy thereafter.That was just over 20 years ago and I've only had one rent increase since
Not having a lease does mean that the landlord can increase the rent after whatever notice period applies (60 days I think).

I've had an investment/retirement property in country NSW for the last 10 years and normally it starts out as a 12 month lease and then reverts to a fortnightly tenancy.
[The current tenants have a 6 month lease and will be required to leave at the end on the lease period. It's not because they are bad tenants, it's because white ants have eaten most of the timber and I have to replace the roof and ceilings ]

Under a lease, you are required to give at least 14 day notice and may be liable for landlords costs and loss of rent while re-letting. If no lease is in place, you are required to give at least 21 days notice. (the landlord must give you 60 days notice to vacate in either case) This is for NSW, not sure of the rules in Victoria.

[artme]

I think it would be wise to give at least a month's notice if your intention to relinquish the lease along with a request for weekly rental. Do this in writing.

Also find out how much notice you must give before moving on to another house. Get this in writing from the agent, and give notice to quit in writing when you do move.