End of Tenancy and Breaking The Lease in Carlyle District

At the end of the lease term in Carlyle District, either party can opt to end the tenancy. The rental owner could choose not to renew the lease or the tenant could choose to not to renew the lease. If the rental investor wishes to end the lease, or end our management services, please send us written notice as described in your management agreement.

When 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 usually 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 choices:

1. Month-to-month --- This will include a large rent increase.
2. 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 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 rental owner. If a tenant 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 owner. That money is consumed by paying for vacancy and the cost of acquiring a new tenant .

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 tenant 's security deposit, per your lease.
We recommend that the rental 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 landlord's name.