What happens in Meadows_of_narnia when the lease term ends?
At the end of the lease in Meadows_of_narnia, either party can opt to end the tenancy. The rental owner could choose not to renew the lease or the tenant could choose to not to renew the lease. If the rental 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 producing the highest possible net income. This means that we will routinely 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 tenant two choices:
- Month-to-month --- This will include a large rent increase.
- Renew the lease --- This will lock the property up for another year with a small rent increase.
When tenants break the lease
Sometimes circumstances arise that require a tenant to break the lease. When this occures, Nesbitt Realty tries to minimize the impact of this event on the rental investor. 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 rental 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 tenant 's security deposit, per your lease.
We recommend that the owner replace the carpet every 5 to 7 years. We recommend that the rental 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 free reference for landlords in Meadows_of_narnia
- Before you lease out your investment in Meadows_of_narnia
- Collections and evictions
- Communications with the tenant
- During tenancy
- End of lease term and what happens when a renter breaks the lease
- How does the rental investor get paid?
- How your management company handles the association and your community
- How your property manager handles utilities
- How Nesbitt Realty finds tenants
- Insurance matters for property owners using our property management
- How Nesbitt Realty & Management manage keys
- Meadows_of_narnia landlord responsibilities
- Maintenance, repairs & inspections for your property in Meadows_of_narnia
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental property
- When landlords don't yet know their new address
- Vetting tenants in Meadows_of_narnia