What happens in The Wooster And Mercer Lofts when the lease is over?
At the end of the lease in The Wooster And Mercer Lofts, either party can opt to end the tenancy. The landlord could choose not to renew the lease or the renter could choose to not to renew the lease. If the landlord wishes to end the lease, or end our 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 property 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:
- Month-to-month --- This will include a large rent increase.
- Renew the lease --- This will lock the rental property up for another year with a small rent increase.
When renters break the lease
Sometimes circumstances arise which make a tenant to break the lease. If 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 renter to surrender the deposit but this is never a windfall for the owner. That money is consumed by paying for vacancy and the cost of acquiring a new renter .
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 good source for landlords in The Wooster And Mercer Lofts
- Before you rent out your rental in The Wooster And Mercer Lofts
- Collections and evictions
- Communications with the renter
- During tenancy
- End of tenancy and what happens when a renter breaks the lease
- How does the rental investor get paid?
- How your rental manager handles the association and your community
- How your rental manager handles utilities
- How Nesbitt finds tenants
- Insurance matters for property owners using our rental management
- How Nesbitt Realty & Management manage keys
- The Wooster And Mercer Lofts owner responsibilities
- Maintenance, repairs & inspections for your rental property in The Wooster And Mercer Lofts
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental property
- When landlords don't yet know their new address
- Vetting renters in The Wooster And Mercer Lofts