What happens in Hollindale when the lease term ends?
At the end of the lease in Hollindale, either party can opt to end the tenancy. The landlord could choose not to renew the lease or the renter could choose to not to renew the lease. If the rental owner wishes to end the lease, or conclude our management services, please send us written notice as described in your rental management agreement.
If 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 often 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 occures, 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 surrender the deposit but this is never a windfall for the rental owner. That money is consumed by paying for vacancy and the cost of acquiring a new renter .
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 tenant 's security deposit, per your lease.
We recommend that the landlord replace the carpet every 5 to 7 years. We recommend that the rental 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 useful archive for landlords in Hollindale
- Before you move a tenant into your rental property in Hollindale
- 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 owner get paid?
- How your management company handles the association and your community
- How your property management company handles utilities
- How Nesbitt finds renters
- Insurance matters for rental investors using our rental management
- How Nesbitt Realty & Management manage keys
- Hollindale rental investor responsibilities
- Maintenance, repairs & inspections for your property in Hollindale
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental investment
- When owners don't yet know their new address
- Vetting tenants in Hollindale