What happens in Red_fox_forest when the lease is over?
At the end of the lease in Red_fox_forest, 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 conclude our management services, please send us written notice as described in your rental 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 in order to renew the lease.
At that point we give the renter two choices:
- 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 which make 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 property owner. If a tenant leaves with little or no notice, this will surely cause the tenant to lose 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 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 landlord paint every 5 to 7 years.
Utilities
During vacancies we will either put the utilities in our name or in the owner's name.
Landlord Reference
a useful archive for rental investors in Red_fox_forest
- Before you put a renter in your rental property in Red_fox_forest
- Collections and evictions
- Communications with the renter
- During tenancy
- End of tenancy and what happens when a tenant breaks the lease
- How does the owner get paid?
- How your rental manager handles the association and your community
- How your management company handles utilities
- How Nesbitt Realty & Management finds tenants
- Insurance matters for owners using our property management
- How Nesbitt Realty & Management manage keys
- Red_fox_forest landlord responsibilities
- Maintenance, repairs & inspections for your rental investment in Red_fox_forest
- 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 Red_fox_forest