What happens in Horizon_house when the lease term ends?
At the end of the lease term in Horizon_house, either party can opt to end the tenancy. The rental investor 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 conclude our rental 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 property producing the highest possible net income. This means that we will routinely contact a tenant 6 to 8 weeks before the end of the lease 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 renters break the lease
Sometimes things happen that require a renter to break the lease. When this occures, Nesbitt Realty tries to minimize the impact of this event on the landlord. 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 property 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 renter move-out and the actual cost of carpeting will be deducted from the renter 's security deposit, per your lease.
We recommend that the rental owner replace the carpet every 5 to 7 years. We recommend that the 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 source for rental investors in Horizon_house
- Before you move a tenant into your property in Horizon_house
- 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 property owner get paid?
- How your management company handles the association and your community
- How your rental manager handles utilities
- How Nesbitt finds renters
- Insurance matters for property owners using our rental management
- How Nesbitt Realty & Management manage keys
- Horizon_house rental investor responsibilities
- Maintenance, repairs & inspections for your rental property in Horizon_house
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental property
- When property owners don't yet know their new address
- Vetting tenants in Horizon_house