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Renting lease requirements when trying to buy?

  • 20-10-2012 10:19am
    #1
    IpreDictDeatH
    Registered Users Posts: 269 ✭✭


    So we've been approved ofr a mortgage by AIB (yay) and we're starting to shop around. I was wondering does anyone have any advice in relation with dealing with rental leases and how/when to approach landlord about possibility of breaking a lease.

    Ours is up at the start of febuary and im afraid we will find a house soon and want to jump quick. We realistically cant pay rent and a mortgage, even for one month, so we'd have to be clear from renting. Is it true thati can give one months notice, and also get my deposit back or do i have to live out the full 12 months if i want my money back?

    I also think i paid a month in advance aswell as a deposit, so that means im free of the rent a month before im due to move out? Correct?


Comments

  • #2
    djimi
    Registered Users, Registered Users 2 Posts: 13,237 ✭✭✭✭djimi


    The only legal way of breaking a fixed term lease is to approach the landlord and ask them can you find someone to reassign the remainder of your lease to. If the landlord agrees then its up to you to go find the person, and they then must be suitable to the landlord. If the landlord flatly refuses to any reassignment then you can legally break the lease and retain your deposit.

    There is no other legal way of breaking a lease. You cannot use your deposit as a last months rent and if you do then the landlord is legally entitled to persue you for moneys lost (plus the cost of repairing any damage to the property). Whether they will or not remains to be seen (its probably unlikely given the cost and effort involved and relatively small amount to be gained from such effort), but its your choice if you want to take that gamble.


  • #3
    odds_on
    Closed Accounts Posts: 1,869 ✭✭✭odds_on


    Once you have found a property, and have your offer accepted, you can expect probably in the region of 3 months (could be more, could be less) for completion. I would hazard a guess that you may not have completion by the start of Feb and will have to remain in your current property for a short while after Feb next year. If this is the case, do not sign a new fixed term lease, but let the current lease lapse into a Part 4 tenancy. With a Part 4 tenancy, you can give written notice and vacate, retaining your deposit (excepting damage in excess of normal wear and tear). In your case, as you will have been in the property for more than one year but less than two years, the notice period required is 42 days, though a landlord may accept less if you ask him.


  • #4
    IpreDictDeatH
    Registered Users Posts: 269 ✭✭IpreDictDeatH


    Thanks folks, thats cleared up a bit for me. I wouldnt mind it taking that amount of time as we could move home if needs be for a short period. I just dont want that deposit being withheld from me. Could be half the cost of legal fees.


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