What happens in Isabella_at_monticello_mews when the lease is over?
At the end of the lease in Isabella_at_monticello_mews, 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 investor wishes to end the lease, or end our 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 often 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 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 tenants break the lease
Sometimes circumstances arise that require a renter 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 landlord. 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 renter .
Readying the rental
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 rental owner's name.
Landlord Reference
a handy reference for property owners in Isabella_at_monticello_mews
- Before you move a tenant into your rental property in Isabella_at_monticello_mews
- Collections and evictions
- Communications with the tenant
- During the lease term
- End of tenancy and what happens when a renter breaks the lease
- How does the property owner get paid?
- How your management company handles the association and your community
- How your property manager handles utilities
- How Nesbitt finds renters
- Insurance matters for owners using our rental management
- How Nesbitt Realty & Management manage keys
- Isabella_at_monticello_mews rental investor responsibilities
- Maintenance, repairs & inspections for your rental investment in Isabella_at_monticello_mews
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your property
- When property owners don't yet know their new address
- Vetting tenants in Isabella_at_monticello_mews