“If a tenant chooses not to renew their lease, can I start advertising my property immediately to ensure there is no loss in rental income?”
Advertising my property
We asked business development manager at LJ Hooker Gosford, Madeleine Smith for her opinion on this question:
Madeleine said landlords can only ‘re-list’ a property after a tenant gives notice to vacate.
“Not renewing a lease does not mean you are moving out of a property, until you give formal notice,” she said.
“Once you do this, it is in your best interest to advertise the property immediately to minimise your loss of income. You must allow reasonable access in the last 14 days for them to show new tenants through.”
Madeleine said it was important to remember that a new tenant cannot sign a lease until the previous tenant has vacated and handed back possession of the property.
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