End tenancy agreement - Timing Questions

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  1. #1

    End tenancy agreement - Timing Questions

    I'm looking to end my tenancy agreement with my current landlord. I've been here around 20 months so I can terminate the agreement with "one month's notice". Main reason is I intend to move closer to work.

    A couple of questions:


    • Can I terminate my agreement on any day of the month? My start date was 5th of December 2020, so do I need to inform my landlord on the 5th of the month, or can I notify them at any day of the month and pro-rate whatever balance is required? (The contract just states "one month")
    • Should I end my tenancy agreement now then look for an apartment, or are new landlords typically willing to wait one month for me to move in? I'd rather not end my agreement early then struggle to find a place in time. I'll also be using an agent and from my experience they just want a quick turn-around.


    Rent in the area I'm looking in will be around 15k, so I doubt I have much bargaining power.

    Any advice appreciated!

    Cheers.

  2. #2

    Join Date
    Sep 2018
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    Quote Originally Posted by alexlkardon:
    I'm looking to end my tenancy agreement with my current landlord. I've been here around 20 months so I can terminate the agreement with "one month's notice". Main reason is I intend to move closer to work.

    A couple of questions:


    • Can I terminate my agreement on any day of the month? My start date was 5th of December 2020, so do I need to inform my landlord on the 5th of the month, or can I notify them at any day of the month and pro-rate whatever balance is required? (The contract just states "one month")
    • Should I end my tenancy agreement now then look for an apartment, or are new landlords typically willing to wait one month for me to move in? I'd rather not end my agreement early then struggle to find a place in time. I'll also be using an agent and from my experience they just want a quick turn-around.


    Rent in the area I'm looking in will be around 15k, so I doubt I have much bargaining power.

    Any advice appreciated!

    Cheers.
    1. Terminate whenever you want
    2. At the moment landlords are more willing to have the place empty for a bit to close the deal. Still, there's likely to have to be done overlap. Gauge the market before giving notice.

  3. #3

    Join Date
    Sep 2018
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    Hong Kong Island
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    12

    When I have ended a tenancy in the past I have paid one month's rent for the notice period and hamd back the keys the day before the following rent payment is due, in your case it would be 4th of the month. But you can negotiate prorata rent with your landlord and leave earlier if this is what you want.

    Personally I wouldn't give notice on my current apartment unless I have secured another place to live, otherwise I might find myself in a hotel or on the street. It's potentially more expensive but not worth the risk especially if you have a lot of furniture and possessions.


  4. #4

    Join Date
    Jul 2006
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    3,865
    Quote Originally Posted by Opsy:
    When I have ended a tenancy in the past I have paid one month's rent for the notice period and hamd back the keys the day before the following rent payment is due, in your case it would be 4th of the month. But you can negotiate prorata rent with your landlord and leave earlier if this is what you want.

    Personally I wouldn't give notice on my current apartment unless I have secured another place to live, otherwise I might find myself in a hotel or on the street. It's potentially more expensive but not worth the risk especially if you have a lot of furniture and possessions.
    It's a buyers market now, there's tonnes of inventory available.

    However, it's generally true that you'll drive a better bargain for yourself if you can afford to be choosy and have the full set of options.

    Alex - 1 month is the right amount of time to start looking (but don't start slowly) in the current market, they'll want you to move in within a few weeks, but again, it's a buyers market.

  5. #5

    Join Date
    Aug 2017
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    Don't forget to negotiate a week or two rent free move in period, this should cover the overlap