At the end of the lease term, either party can opt to end the tenancy. The landlord could choose not to renew the lease or the tenant could choose to not to renew the lease. If you wish to end the lease, or end our property management services, please send us written notice as described in your property management agreement.
If we don't receive such notice we will strive to make choices that will keep your rental property producing the highest possible net income. This means that we will usually contact a tenant 6 to 8 weeks before the end of the lease in order to renew the lease.
At that point we give the tenant two options:
- Month-to-month --- This will include a large rent increase.
- Renew the lease --- This will lock the property up for another year with a small rent increase.
When Tenants Break the Lease
Sometimes circumstances arise that require a tenant to break the lease. When this happens, Nesbitt Realty tries to minimize the impact of this event on the landlord. If a tenant leaves with little or no notice, this will surely cause the tenant to surrender the deposit but this is never a windfall for the landlord. That money is consumed by paying for vacancy and the cost of acquiring a new tenant.
Readying the Property
We will have the carpet professional cleaned upon tenant move-out and the actual cost of carpeting will be deducted from the tenant's security deposit, per your lease.
We recommend that the landlord replace the carpet every 5 to 7 years. We recommend that the landlord paint every 5 to 7 years.
During vacancies we will either put the utilities in our name or in the landlord's name.