End of Tenancy and Breaking The Lease in Sulgrave Manor

What happens in Sulgrave Manor when the lease ends?

At the end of the lease in Sulgrave Manor, either party can opt to end the tenancy. The rental owner 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 end our rental management services, please send us written notice as described in your rental 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 usually create a new lease for 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 renter two options:

  1. Month-to-month --- This will include a large rent increase.
  2. Renew the lease --- This will lock the rental investment up for another year with a small rent increase.

When tenants break the lease

Sometimes things happen that require a tenant to break the lease. If 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 property

We will have the carpet professional cleaned upon tenant move-out and the actual cost of carpeting will be deducted from the tenant 's security deposit, per your lease.
We recommend that the rental 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 investor's name.