What happens in The Mercer At Reston Square when the lease is over?
At the end of the lease in The Mercer At Reston Square, 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 rental management services, please send us written notice as described in your property 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 routinely 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 rental 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. If this happens, 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 owner. 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 tenant 's security deposit, per your lease.
We recommend that the 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 landlord's name.
Landlord Reference
a good reference for rental investors in The Mercer At Reston Square
- Before you rent out your property in The Mercer At Reston Square
- Collections and evictions
- Communications with the renter
- During the lease term
- End of tenancy and what happens when a tenant breaks the lease
- How does the property owner get paid?
- How your property manager handles the association and your community
- How your property management company handles utilities
- How Nesbitt finds tenants
- Insurance matters for owners using our rental management
- How Nesbitt Realty & Management manage keys
- The Mercer At Reston Square property owner responsibilities
- Maintenance, repairs & inspections for your rental property in The Mercer At Reston Square
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental property
- When property owners don't yet know their new address
- Vetting renters in The Mercer At Reston Square