What happens in Barcroft_forest when the lease ends?
At the end of the lease term in Barcroft_forest, either party can opt to end the tenancy. The property owner could choose not to renew the lease or the tenant could choose to not to renew the lease. If the property owner wishes to end the lease, or end our property management services, please send us written notice as described in your property 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 create a new lease for a tenant 6 to 8 weeks before the end of the lease in order to renew the lease.
At that point we give the renter 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 circumstances arise which make a renter to break the lease. If this happens, Nesbitt Realty tries to minimize the impact of this event on the owner. If a tenant leaves with little or no notice, this will surely cause the tenant to surrender 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 tenant .
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 renter '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 property owner's name.
Landlord Reference
a useful reference for property owners in Barcroft_forest
- Before you rent out your rental property in Barcroft_forest
- Collections and evictions
- Communications with the renter
- During the lease term
- End of tenancy and what happens when a renter breaks the lease
- How does the landlord get paid?
- How your property manager handles the association and your community
- How your property management company handles utilities
- How Nesbitt finds renters
- Insurance matters for landlords using our rental management
- How Nesbitt Realty & Management manage keys
- Barcroft_forest rental investor responsibilities
- Maintenance, repairs & inspections for your rental property in Barcroft_forest
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your property
- When landlords don't yet know their new address
- Vetting renters in Barcroft_forest