What happens in Stuart Ridge when the lease term ends?
At the end of the lease in Stuart Ridge, either party can opt to end the tenancy. The rental investor 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 rental 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 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 renter two options:
- Month-to-month --- This will include a large rent increase.
- Renew the lease --- This will lock the rental investment up for another year with a small rent increase.
When renters break the lease
Sometimes things happen that require a tenant to break the lease. If this happens, Nesbitt Realty tries to minimize the impact of this event on the rental investor. If a tenant leaves with little or no notice, this will surely cause the renter to lose the deposit but this is never a windfall for the landlord. That money is consumed by paying for vacancy and the cost of acquiring a new renter .
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 renter 's security deposit, per your lease.
We recommend that the rental 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 property owner's name.
Landlord Reference
a good reference for property owners in Stuart Ridge
- Before you lease out your rental in Stuart Ridge
- Collections and evictions
- Communications with the tenant
- During the lease term
- End of lease term and what happens when a tenant breaks the lease
- How does the landlord get paid?
- How your rental manager handles the association and your community
- How your property management company handles utilities
- How Nesbitt Realty finds tenants
- Insurance matters for rental investors using our property management
- How Nesbitt Realty & Management manage keys
- Stuart Ridge property owner responsibilities
- Maintenance, repairs & inspections for your rental investment in Stuart Ridge
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental
- When owners don't yet know their new address
- Vetting tenants in Stuart Ridge