[mgbridges]

Hi folks,

Since arriving in Auckland at the weekend I've started looking seriously into the rental market. The feedback I'm getting from agents is that most landlords are looking for a 12 month rental, and very few will go for less than 6 months. Since we're planning to buy within 3-6 months this could be a bit of an issue.

What's the situation really like with rental contracts? Is it possible to give notice prior to the full term or would we be liable for the full cost for (say) 12 months even if we wanted to move out after 3 or 4 months?

Cheers,

Martin
(in Auckland, despite what the location says!)

[barryp]

If you sign a FIXED TERM lease, you are liable for paying rent for the ENTIRE term, whether you live there for the duration or not. You can't pay a little fine and walk away.

Most small landlords seem willing to let you off the hook if you move out early AND a replacement tenant is found to cover the rest of your lease period. We just finished paying the end of a 6-month lease because the landlord couldn't find replacement tenants for the end time of our lease. Ouch. Leasing companies are not typically so flexible.

You can try to negotiate a shorter lease, which is more likely if you go direct rather than through a leasing company.

[zardell]

Barryp is spot on.

Have PM'd you.

Julie

xx

[eternalkiwi]

The fixed term leases I have seen from private landlords and property management agencies have included a clause allowing you to leave before the end of your term if you find another tenant that the landlord approves of.

The key thing the landlord is seeking is reliable tenants and a stable longterm income.

Shawn

[whiskythedog]

we told our relocations consultant to find us a rental which would accept a six month term (and a dog).
she came back with quite a few for a full days viewing
our contract (in st heliers) is fixed for six months with a rolling one month extension.
this gives us some flexibility if the right house is not available until later.
your estate agent may well know the landlord and sometimes they can help with negotiations.
current exchange rates not that favourable at the moment so happy to sit it out at moment (2.572)

[Pip]

Also worth trying holiday homes.

Just a thought, but I know several people, including us, who have stayed 2-3 months in holiday homes/bach's while we purchased a house, as these are normally less restrictive than other rentals. (although this might work better in the warmer times of the yr!) These work out slightly more expensive per month, but are normally fully furnished with linen/towels which makes life a bit easier when you first arrive and are waiting for a container, also no problem with having to sign a 6/12 month lease and find replacement tenants.

if you search on here, you should find a few links to various websites....

hope that helps!

[BaldyBeardyBloke]

This may be a major city phenomenon, we have only to give three weeks notice to move out and we're about to move to another rental where the terms are the same, both are through big rental agents. Having said that we know people who are tied into fixed term agreements here as well, although I think they're direct with private landlords, so the opposite seems to be true on this, admittedly meagre, evidence in Hamilton.

The agent we spoke to today said a three week notice period is the maximum any agent will be able to hold you to in NZ. I have my doubts about this statement, but that is the deal we have had twice now, so there you go. Suits us just fine.

The opposite is also true though, they can ask us to leave with four weeks notice.

[HelenandPhil]

Hi BBB,

We are coming to Hamilton in October can you pm us the names of the rental agents you used please?