What happens in West End when the lease term ends?
At the end of the lease term in West End, either party can opt to end the tenancy. The landlord could choose not to renew the lease or the tenant could choose to not to renew the lease. If the rental investor wishes to end the lease, or end 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 rental producing the highest possible net income. This means that we will typically 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 tenant two options:
- 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 tenants break the lease
Sometimes things happen which make a renter to break the lease. If 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 renter to surrender the deposit but this is never a windfall for the landlord. That money is consumed by paying for vacancy and the cost of acquiring a new tenant .
Readying the rental investment
We will have the carpet professional cleaned upon renter move-out and the actual cost of carpeting will be deducted from the tenant 's security deposit, per your lease.
We recommend that the owner replace the carpet every 5 to 7 years. We recommend that the landlord 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 free reference for property owners in West End
- Before you put a renter in your property in West End
- Collections and evictions
- Communications with the tenant
- During tenancy
- End of tenancy and what happens when a renter 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 finds renters
- Insurance matters for owners using our property management
- How Nesbitt Realty & Management manage keys
- West End rental investor responsibilities
- Maintenance, repairs & inspections for your rental property in West End
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental
- When owners don't yet know their new address
- Vetting tenants in West End