What happens in Ravensworth_grove when the lease is over?
At the end of the lease term in Ravensworth_grove, either party can opt to end the tenancy. The owner could choose not to renew the lease or the renter could choose to not to renew the lease. If the property owner wishes to end the lease, or end 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 routinely contact a renter 6 to 8 weeks before the end of the lease 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 up for another year with a small rent increase.
When renters break the lease
Sometimes things happen that require a renter to end the lease before the lease term is over. If this occures, Nesbitt Realty tries to minimize the impact of this event on the rental owner. 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 property owner. That money is consumed by paying for vacancy and the cost of acquiring a new renter .
Readying the rental
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 property owner 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 useful archive for landlords in Ravensworth_grove
- Before you lease out your investment in Ravensworth_grove
- Collections and evictions
- Communications with the tenant
- During the lease term
- End of tenancy and what happens when a renter breaks the lease
- How does the owner get paid?
- How your management company handles the association and your community
- How your property management company handles utilities
- How Nesbitt Realty & Management finds tenants
- Insurance matters for landlords using our property management
- How Nesbitt Realty & Management manage keys
- Ravensworth_grove landlord responsibilities
- Maintenance, repairs & inspections for your rental investment in Ravensworth_grove
- 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 Ravensworth_grove