What happens in Washington_square when the lease ends?
At the end of the lease in Washington_square, either party can opt to end the tenancy. The rental owner could choose not to renew the lease or the tenant could choose to not to renew the lease. If the landlord wishes to end the lease, or end 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 property producing the highest possible net income. This means that we will typically contact a renter 6 to 8 weeks before the end of the lease 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 rental up for another year with a small rent increase.
When renters 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 rental investor. If a tenant leaves with little or no notice, this will surely cause the tenant to lose 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
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 rental investor paint every 5 to 7 years.
Utilities
During vacancies we will either put the utilities in our name or in the owner's name.
Landlord Reference
a free source for rental investors in Washington_square
- Before you rent out your investment in Washington_square
- Collections and evictions
- Communications with the tenant
- During tenancy
- End of lease term and what happens when a tenant breaks the lease
- How does the rental investor get paid?
- How your property manager handles the association and your community
- How your property manager handles utilities
- How Nesbitt Realty & Management finds renters
- Insurance matters for rental investors using our rental management
- How Nesbitt Realty & Management manage keys
- Washington_square property owner responsibilities
- Maintenance, repairs & inspections for your rental property in Washington_square
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental
- When landlords don't yet know their new address
- Vetting renters in Washington_square