Start-up Break Your Lease app is designed to help people get out of contracts without hurting their wallet.
The world-first social platform was launched in mid-2020 initially to help tenants renting residential and commercial property to break their lease with their landlords. The scope of has since grown to help people trade their gym memberships and car, bike and boat leases by connecting them to someone who would like to take over the commitment.
Founder and chief executive officer Richard Saville said the app offers people who are struggling to pay their current leases an ‘easy out’, all while landlords and business owners maintain their income.
“The app will be of great benefit to people looking to leave their lease, as well as those seeking a new one quickly, and landlords who won’t need to contend with broken leases,” said Mr. Saville.
The world-first innovation has already begun to fill a sizeable gap in the market by putting the control back into the hands of consumers across the globe.
Break Your Lease app’s launch after more than a year of planning coincided with the COVID-19 pandemic, which put pressure on economies and jobs worldwide.
“The launch of the app is particularly timely due to the rising unemployment figures resulting from COVID-19, which are putting increased strain on peoples’ ability to pay their leases,” Mr. Saville.
“People have always wanted the flexibility of getting out of contracts without hefty fees. I think that is truer now more than ever as they are forced to reevaluate their finances and downsize their budgets.
“On the opposite hand, others who have built wealth through the pandemic are looking to cash in and take over these contracts with a reduced commitment.”
The innovative technology is currently available and legal to use in Australia, New Zealand, Canada, Italy, France, Germany, UK and USA. Users can register for free to list the lease they want to break.
Break Your Lease app is available for the smartphone via Apple’s AppStore and Android’s PlayStore for MacBooks. In just seven months since launch, more than 700,000 Australians have downloaded the platform.
International popstar, Sean Paul, is an ambassador for Break Your Lease, alongside Australian sporting stars Justin Hodges, Willy Mason, Tony Milford, and Chris Waller.
Mr. Saville noticed the gap in the market through his decade-long career in Australia’s Real Estate industry while based in Brisbane. He had noticed the growing intersection between technology and the property sector and conceived the idea to solidify the cross over and connect more people.
Mr. Saville’s ambitious goal is to become a household name in every English speaking country within the next year.
Due to the originality of the concept, Mr. Saville has secured a worldwide patent for the app.