Lease renewal Costs

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  1. #1
    knk
    knk is offline

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    Lease renewal Costs

    Our lease is up for renewal very soon. We have no contact with the landlord and to be honest our agent is useless.
    Is anyone able to tell us what type of fees or renewal costs we may be stung with when we are ready to sign the renewal please.


  2. #2

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    Probably a rental hike with the associated increase in your deposit. Don't forget stamp fee for the contract but that is nominal.


  3. #3

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    Quote Originally Posted by knk:
    Our lease is up for renewal very soon. We have no contact with the landlord and to be honest our agent is useless.
    Is anyone able to tell us what type of fees or renewal costs we may be stung with when we are ready to sign the renewal please.
    How do you pay the rent and collect receipts?

  4. #4
    knk
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    We pay monthly to the landlord not the agent as a direct transfer so no receipt other than bank details.
    With planned for the rent hike which was considerably less than we thought it may have been, however having lost our view due to another bloody tower being built on the foreshore it should have gone down!

    So we should expect the difference between what we pay now and then you rent to be added onto a security deposit and the stamp duty.?

    Many thanks


  5. #5

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    Quote Originally Posted by knk:
    So we should expect the difference between what we pay now and then you rent to be added onto a security deposit and the stamp duty.?
    Yes, the landlord will want the deposit to reflect the new rental amount. Stamp duty is based on rental amount.