PROPERTYADVICE

Should you move out of your property?

  1. Check your lease terms and if you can break your lease, there may be a specific date set within the lease for a break or it may be a rolling break. Check if the break clause is personal to you or to the original tenant and the details the terms of the lease cover. There may be penalties but it is worth negotiating these with your landlord before deciding.
  2. If you are relocating in order to make savings, calculate the cost of relocation vs the cost of negotiation better lease terms. A good property consultant may be able to negotiate better terms on your current lease and it would be worthwhile investigating this option before making a final decision.
  3. If you feel you have outgrown your space you may find that a fit out to improve your use of the space is less costly than a move. Ask for a space planning consultation to look at the options.
  4. If you are not using all the space you currently lease you could investigate options for subleasing some of the space. Your lease will most likely set out terms for subleasing and these would need to be discussed with your landlord before proceeding.
  5. Check your dilapidations responsibilities when you leave the property and include those costs in the budget you set for relocation.