End of Tenancy and Breaking The Lease in Lorcom Grove

At the end of the lease in Lorcom Grove, 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 landlord wishes to end the lease, or conclude our rental management services, please send us written notice as described in your management agreement.

If we don't receive such notice, we will strive to make choices that will keep your rental investment producing the highest possible net income. This means that we will often 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 choices:

1. Month-to-month --- This will include a large rent increase.
2. Renew the lease --- This will lock the rental investment up for another year with a small rent increase.

When tenants break the lease

Sometimes things happen which make a tenant to end the lease before the lease term is over. When this happens, 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 tenant to surrender 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 renter .

Readying the rental property

We will have the carpet professional cleaned upon tenant 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 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.