What happens in Courthouse Clarendon when the lease is over?
At the end of the lease in Courthouse Clarendon, 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 conclude our 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 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 options:
- Month-to-month --- This will include a large rent increase.
- Renew the lease --- This will lock the rental investment 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 happens, Nesbitt Realty tries to minimize the impact of this event on the owner. If a renter 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 rental investment
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 landlord 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 property owner's name.
Landlord Reference
a useful archive for landlords in Courthouse Clarendon
- Before you rent out your investment in Courthouse Clarendon
- Collections and evictions
- Communications with the tenant
- During the lease term
- End of lease term and what happens when a renter breaks the lease
- How does the owner get paid?
- How your property management company handles the association and your community
- How your management company handles utilities
- How Nesbitt finds tenants
- Insurance matters for property owners using our property management
- How Nesbitt Realty & Management manage keys
- Courthouse Clarendon owner responsibilities
- Maintenance, repairs & inspections for your rental investment in Courthouse Clarendon
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental investment
- When owners don't yet know their new address
- Vetting renters in Courthouse Clarendon