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introducing mandatory set fees for breaking a fixed-term lease early. The break fee will apply to all new fixed-term leases that are 3 years or less that are entered into after the new laws start. The break fees are:
4 weeks’ rent if 75% or more of the lease remains
3 weeks’ rent if between 50% and 75% of the lease remains
2 weeks’ rent if between 25% and 50% of the lease remains
1 week’s rent if 25% or less of the lease remains |
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