What to do when your tenant says they're moving out
Many tenancy agreements come to an end over the summer. Why? People like to move and be settled in a new home before the school year begins or start a new job. Whether your tenants have given you notice they aren’t renewing their lease, or they’ve submitted a notice to vacate part-way through their tenancy, there are steps you should take to make sure the process is as smooth as possible. This article outlines what you should do when your tenants say they’re moving out to reduce administrative headaches and the risk of long vacancies between tenancies.
Receive the notice to vacate in writing
The first step is to make sure your tenant’s notice to vacate is received in writing, either via email, post or hand-delivered in person.
Confirm the vacate date and end-of-lease requirements
Next, is to communicate with your tenant to confirm their vacate date and the balance of any rent owing. This is also an opportunity to share a few tips or send a vacate checklist on making the process of moving out and getting their bond back as smooth as possible. We would recommend doing this in writing in case any issues arise.
Advertise your property
Once you have your tenant’s vacate notice, you should get your property ready to advertise as soon as possible. If it is at the end of the Lease term, this is an ideal time to complete a rental review and adjust the rent if needed (a Break Lease has different requirements). If you’re able to advertise your property at least four in advance of your current tenant vacating, this will decrease the risk of your property being vacate for too long between tenancies.
Complete the exit report and finalise the bond refund
Once the tenant has returned their keys, the exit report can be completed. Key things to check during the exit inspection include the condition of walls, the carpet, light fixtures, exhaust fans, oven, appliances, and any outdoor areas such as balconies, lawns and garden beds. Once you’ve completed the exit report, compare it to the ingoing inspection report and advise the tenant of any issues that will need to be rectified. If everything is in good shape, you can refund their bond and the place will be ready for the next tenants.
This sounds like a lot of work, right? It is! The good news is we can take care of this entire process for you. Keeping communication open and making sure the process of vacating your property is clear for your tenants helps everything run smoothly. Whether it’s a break lease or your tenants aren’t renewing their lease, being clear on the vacate process using the steps will help everything run smoothly and reduce your risk of vacancy between tenancies.
Remember, this article is general in nature and is not financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.