What happens in Huntington_station when the lease ends?
At the end of the lease term in Huntington_station, either party can opt to end the tenancy. The owner could choose not to renew the lease or the tenant could choose to not to renew the lease. If the owner wishes to end the lease, or conclude 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 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 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 investment up for another year with a small rent increase.
When renters break the lease
Sometimes things happen which make a renter to end the lease before the lease term is over. If this happens, Nesbitt Realty tries to minimize the impact of this event on the rental investor. 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 tenant move-out and the actual cost of carpeting will be deducted from the renter 's security deposit, per your lease.
We recommend that the 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 landlord's name.
Landlord Reference
a free archive for landlords in Huntington_station
- Before you lease out your property in Huntington_station
- Collections and evictions
- Communications with the tenant
- During the lease term
- End of lease term and what happens when a renter breaks the lease
- How does the landlord get paid?
- How your rental manager handles the association and your community
- How your property management company handles utilities
- How Nesbitt finds tenants
- Insurance matters for rental investors using our rental management
- How Nesbitt Realty & Management manage keys
- Huntington_station owner responsibilities
- Maintenance, repairs & inspections for your rental property in Huntington_station
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental property
- When landlords don't yet know their new address
- Vetting renters in Huntington_station