What happens in Yorktown when the lease ends?
At the end of the lease in Yorktown, 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 management services, please send us written notice as described in your rental management agreement.
If 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 create a new lease for a renter 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 rental property up for another year with a small rent increase.
When tenants break the lease
Sometimes things happen that require a renter 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 property owner. If a tenant 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 tenant .
Readying the rental property
We will have the carpet professional cleaned upon renter move-out and the actual cost of carpeting will be deducted from the tenant 's security deposit, per your lease.
We recommend that the landlord 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 rental investor's name.
Landlord Reference
a free archive for rental investors in Yorktown
- Before you move a tenant into your rental property in Yorktown
- Collections and evictions
- Communications with the tenant
- During tenancy
- End of tenancy and what happens when a tenant breaks the lease
- How does the rental investor get paid?
- How your property manager handles the association and your community
- How your management company handles utilities
- How Nesbitt Realty finds renters
- Insurance matters for landlords using our rental management
- How Nesbitt Realty & Management manage keys
- Yorktown rental investor responsibilities
- Maintenance, repairs & inspections for your rental investment in Yorktown
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your property
- When owners don't yet know their new address
- Vetting renters in Yorktown