What happens in Huntington Commons when the lease ends?
At the end of the lease term in Huntington Commons, 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 landlord wishes to end the lease, or conclude our management services, please send us written notice as described in your 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 routinely create a new lease for a renter 6 to 8 weeks before the end of the lease term in order to renew the lease.
At that point we give the renter two choices:
- 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 renters break the lease
Sometimes things happen which make a tenant to end the lease before the lease term is over. When this happens, Nesbitt Realty tries to minimize the impact of this event on the property owner. If a renter leaves with little or no notice, this will surely cause the renter to lose the deposit but this is never a windfall for the property owner. That money is consumed by paying for vacancy and the cost of acquiring a new renter .
Readying the 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 owner replace the carpet every 5 to 7 years. We recommend that the property owner paint every 5 to 7 years.
Utilities
During vacancies we will either put the utilities in our name or in the rental investor's name.
Landlord Reference
a good source for landlords in Huntington Commons
- Before you lease out your rental in Huntington Commons
- Collections and evictions
- Communications with the renter
- During the lease term
- End of tenancy and what happens when a tenant breaks the lease
- How does the rental investor get paid?
- How your management company handles the association and your community
- How your management company handles utilities
- How Nesbitt Realty finds tenants
- Insurance matters for landlords using our rental management
- How Nesbitt Realty & Management manage keys
- Huntington Commons landlord responsibilities
- Maintenance, repairs & inspections for your rental investment in Huntington Commons
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental property
- When property owners don't yet know their new address
- Vetting renters in Huntington Commons