Existing residential leases

Are you looking at buying residential property with a contract and it says that it’s subject to a lease?

If so, you need to know when the lease ends, particularly if you want to live in the property!

There are provisions in the Residential Tenancies Act, which may allow the Vendor selling you the property or you after you own the property to end the Lease early, but notice must still be given to the person living in the home and it must be at least 60 days.

If you want to buy a home that the contract says is subject to a lease, but you want to live in it immediately, then do not sign the contract you have been given. You should visit our Advice Centre so we can show you how you can achieve this.

If you have any queries regarding a lease at the property you want to buy, please visit our Advice Centre upload your Contract and Vendor Statement so we can look at this for you.