Entrepreneur and app designer Richard Saville noticed a gap in the market for an easy and affordable way for the everyday person to get out of their leases and contracts without breaking the bank.
After more than a decade in real estate, the Australian property agent noticed the growing intersection between technology and the property sector and conceived the idea to solidify the cross over and connect more people.
The world-first social platform launched in mid-2020 to help was first designed to help tenants with residential and commercial property leases to break their contract with their landlords but has since grown to help people trade their gym memberships and cars, bikes and boat leases.
Break Your Lease helps connect people who are signed up to a commitment to others who are looking to take it over. Users can register for free to list the lease they want to break.
Mr 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 the chief executive.
The app is currently available for the smartphone via Apple’s AppStore and Android’s PlayStore for MacBooks and has already been downloaded more than 700,000 Australians in the seven months since launch.
One of the biggest challenge Mr Saville faced in the development phase was gaining legal approvals across different countries and state jurdisticitons.The innovative technology is currently available and legal to use in Australia, New Zealand, Canada, Italy, France, Germany, UK and USA.
Plans are in place for the app to expand to other countries in 2021, with the founder wanting hte brand to become a household name in every English speaking country.
Given it’s innovative nature, Mr Saville has had to secure a wowrldwide patent of the app to protect the original idea.
The launch of Break your Lease app happened to coincide with the beginning of the COVID-19 pandemic, which put immediate pressure on economies and jobs around the world. Mr Saville said this type of platform was necessary now more than ever
“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.”
Big names are ambassadors for the app, including International popstar, Sean Paul. Australian sporting stars Justin Hodges, Willy Mason, Tony Milford, and Chris Waller also support Break Your Lease.