What happens in Gregory Heights when the lease ends?
At the end of the lease term in Gregory Heights, either party can opt to end the tenancy. The property owner could choose not to renew the lease or the renter could choose to not to renew the lease. If the rental investor wishes to end the lease, or end our rental management services, please send us written notice as described in your property management agreement.
When we don't receive such notice, we will strive to make choices that will keep your rental producing the highest possible net income. This means that we will typically contact a tenant 6 to 8 weeks before the end of the lease term in order to renew the lease.
At that point we give the tenant two choices:
- Month-to-month --- This will include a large rent increase.
- Renew the lease --- This will lock the rental up for another year with a small rent increase.
When tenants break the lease
Sometimes circumstances arise which make a tenant to break the lease. When this happens, Nesbitt Realty tries to minimize the impact of this event on the property owner. If a tenant leaves with little or no notice, this will surely cause the renter to lose the deposit but this is never a windfall for the owner. That money is consumed by paying for vacancy and the cost of acquiring a new tenant .
Readying the rental property
We will have the carpet professional cleaned upon renter move-out and the actual cost of carpeting will be deducted from the renter 's security deposit, per your lease.
We recommend that the rental investor replace the carpet every 5 to 7 years. We recommend that the owner paint every 5 to 7 years.
Utilities
During vacancies we will either put the utilities in our name or in the rental owner's name.
Landlord Reference
a free source for rental investors in Gregory Heights
- Before you lease out your rental property in Gregory Heights
- Collections and evictions
- Communications with the tenant
- During the lease term
- End of tenancy and what happens when a tenant breaks the lease
- How does the property owner get paid?
- How your property manager handles the association and your community
- How your rental manager handles utilities
- How Nesbitt finds renters
- Insurance matters for rental investors using our property management
- How Nesbitt Realty & Management manage keys
- Gregory Heights owner responsibilities
- Maintenance, repairs & inspections for your rental property in Gregory Heights
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental property
- When owners don't yet know their new address
- Vetting renters in Gregory Heights