Lease Renewals

Lease Renewals

All our leases are fixed term tenancies. 

We do not ‘extend’ leases at their expiration rather we negotiate on the Landlords behalf a new Form 18a Tenancy Agreement.

Benefits

• Security of tenure
• Cashflow
• Landlords Insurance Policies

Process (in short)

Starts 3 months prior to the expiration of the lease agreement.This is because in Queensland tenants must be given 2 months’ notice to end the tenancy.

Landlords instructions are sort as to their intentions with the property.

Send new lease renewal to tenant with any changes.

Tenant either accepts the terms of the new agreement or issues us with a notice to leave.

Documentation is signed and returned to our Agency for signing with copy to Owner and Tenant.

Update:

• Smoke alarms
• Pool safety certificate
• Rental Bond
• Other agency documents

Lease renewals are designed to keep good tenants in place. They want security of tenure and you the Landlord wants to keep a tenant who pays their rent and looks after your property.

We will always offer our best practice advice during this process. 

Factors that need to be considered are:

• Tenants payment history
• How the tenant has looked after the property
• Market conditions
• Time of year
• Location
• Property type
• Area changes
• Your plans for the property

Many tenants are surprised to hear from us so far out from the end of their lease but given the relevant Queensland State Laws it is simply best practice.