What happens in Chantilly when the lease is over?
At the end of the lease term in Chantilly, 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 rental investor wishes to end the lease, or conclude our property management services, please send us written notice as described in your rental management agreement.
If 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 typically create a new lease for a tenant 6 to 8 weeks before the end of the lease 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 up for another year with a small rent increase.
When tenants break the lease
Sometimes things happen which make 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 renter 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 renter .
Readying the rental investment
We will have the carpet professional cleaned upon tenant 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 rental investor 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 good source for landlords in Chantilly
- Before you put a renter in your property in Chantilly
- Collections and evictions
- Communications with the renter
- During tenancy
- End of lease term 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 manager handles utilities
- How Nesbitt Realty finds tenants
- Insurance matters for rental investors using our rental management
- How Nesbitt Realty & Management manage keys
- Chantilly property owner responsibilities
- Maintenance, repairs & inspections for your property in Chantilly
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental investment
- When landlords don't yet know their new address
- Vetting tenants in Chantilly