What happens in Arlington Homes Sale 2 when the lease ends?
At the end of the lease term in Arlington Homes Sale 2, either party can opt to end the tenancy. The owner could choose not to renew the lease or the renter could choose to not to renew the lease. If the owner 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 property 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 choices:
- Month-to-month --- This will include a large rent increase.
- Renew the lease --- This will lock the property up for another year with a small rent increase.
When tenants break the lease
Sometimes circumstances arise that require a tenant to end the lease before the lease term is over. If this occures, Nesbitt Realty tries to minimize the impact of this event on the rental investor. If a renter leaves with little or no notice, this will surely cause the renter to lose the deposit but this is never a windfall for the rental investor. 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 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 rental investor replace the carpet every 5 to 7 years. We recommend that the rental 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 good archive for property owners in Arlington Homes Sale 2
- Before you put a renter in your investment in Arlington Homes Sale 2
- Collections and evictions
- Communications with the tenant
- During the lease term
- End of tenancy and what happens when a tenant breaks the lease
- How does the owner get paid?
- How your management company handles the association and your community
- How your rental manager handles utilities
- How Nesbitt Realty finds tenants
- Insurance matters for owners using our rental management
- How Nesbitt Realty & Management manage keys
- Arlington Homes Sale 2 property owner responsibilities
- Maintenance, repairs & inspections for your rental property in Arlington Homes Sale 2
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your property
- When owners don't yet know their new address
- Vetting tenants in Arlington Homes Sale 2