Selling your property while it's tenanted
Every property owner wants the selling process to be as seamless and pain-free as possible, but things can get challenging if the property is an investment property and there are tenants occupying...
The lease term refers to the duration or length of time for which a lease agreement is valid.
The lease term refers to the duration or length of time for which a lease agreement is valid. It specifies how long the tenant has the right to occupy and use the property leased from the landlord.
In a fixed-term lease, the tenancy agreement specifies a set period during which the tenant is obligated to rent the property, typically for a certain number of months or years. Once this period ends, the lease may be renewed or terminated.
A periodic lease is a rental agreement that continues after the initial fixed term ends, typically on a month-to-month basis. This type of lease offers flexibility as it allows either the tenant or the landlord to terminate the agreement with proper notice.
In many states such as NSW, the minimum lease term for a residential tenancy agreement is usually 6 months. However, under certain circumstances, 3 month leases are possible.
Is now a good time to sell? Talk to a top agent about market performance in your area.
You might also be interested in
Every property owner wants the selling process to be as seamless and pain-free as possible, but things can get challenging if the property is an investment property and there are tenants occupying...
Did you know that in some states in Australia there are houses for rent you can build equity on while being a tenant? It’s not that common here, but rent to own plans do exist. In theory, they’re...
For young Australians, it can seem like an impossible feat to get a foot on the property ladder these days. With housing prices skyrocketing, many Gen Ys feel locked out of the market when it...