What happens in The_best_location_ Walk_to_23rd_st when the lease is over?
At the end of the lease in The_best_location_ Walk_to_23rd_st, either party can opt to end the tenancy. The 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 conclude 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 property producing the highest possible net income. This means that we will often contact 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 tenant two options:
- Month-to-month --- This will include a large rent increase.
- Renew the lease --- This will lock the property 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 occures, 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 investor. That money is consumed by paying for vacancy and the cost of acquiring a new renter .
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 tenant 's security deposit, per your lease.
We recommend that the owner replace the carpet every 5 to 7 years. We recommend that the property owner paint every 5 to 7 years.
Utilities
During vacancies we will either put the utilities in our name or in the owner's name.
Landlord Reference
a handy reference for rental investors in The_best_location_ Walk_to_23rd_st
- Before you move a tenant into your investment in The_best_location_ Walk_to_23rd_st
- 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 rental investor get paid?
- How your property manager handles the association and your community
- How your rental manager handles utilities
- How Nesbitt Realty & Management finds renters
- Insurance matters for rental investors using our property management
- How Nesbitt Realty & Management manage keys
- The_best_location_ Walk_to_23rd_st owner responsibilities
- Maintenance, repairs & inspections for your property in The_best_location_ Walk_to_23rd_st
- 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 The_best_location_ Walk_to_23rd_st