What happens in Hillwood when the lease term ends?
At the end of the lease in Hillwood, either party can opt to end the tenancy. The rental investor could choose not to renew the lease or the tenant could choose to not to renew the lease. If the landlord wishes to end the lease, or conclude our property 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 investment producing the highest possible net income. This means that we will usually create a new lease for a tenant 6 to 8 weeks before the end of the lease in order to renew the lease.
At that point we give the renter 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 things happen which make a tenant to break the lease. If this happens, Nesbitt Realty tries to minimize the impact of this event on the rental investor. If a renter leaves with little or no notice, this will surely cause the renter 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 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 property owner 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 landlord's name.
Landlord Reference
a useful archive for property owners in Hillwood
- Before you put a renter in your property in Hillwood
- Collections and evictions
- Communications with the renter
- During tenancy
- End of tenancy and what happens when a tenant breaks the lease
- How does the landlord get paid?
- How your property manager handles the association and your community
- How your property management company handles utilities
- How Nesbitt finds renters
- Insurance matters for owners using our rental management
- How Nesbitt Realty & Management manage keys
- Hillwood owner responsibilities
- Maintenance, repairs & inspections for your rental property in Hillwood
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental
- When property owners don't yet know their new address
- Vetting renters in Hillwood