What happens in Burke_lake_meadow when the lease is over?
At the end of the lease in Burke_lake_meadow, either party can opt to end the tenancy. The rental investor 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 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 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 term 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 property up for another year with a small rent increase.
When tenants break the lease
Sometimes circumstances arise that require a tenant 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 property owner. If a renter leaves with little or no notice, this will surely cause the renter 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 renter .
Readying the 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 landlord 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 rental owner's name.
Landlord Reference
a useful source for landlords in Burke_lake_meadow
- Before you rent out your property in Burke_lake_meadow
- 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 owner get paid?
- How your property manager handles the association and your community
- How your management company handles utilities
- How Nesbitt Realty finds renters
- Insurance matters for rental investors using our property management
- How Nesbitt Realty & Management manage keys
- Burke_lake_meadow property owner responsibilities
- Maintenance, repairs & inspections for your rental property in Burke_lake_meadow
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental property
- When owners don't yet know their new address
- Vetting renters in Burke_lake_meadow