What happens in Chapel_trails when the lease ends?
At the end of the lease in Chapel_trails, either party can opt to end the tenancy. The landlord could choose not to renew the lease or the renter could choose to not to renew the lease. If the owner wishes to end the lease, or end our rental management services, please send us written notice as described in your property 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 tenant 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 property up for another year with a small rent increase.
When renters break the lease
Sometimes things happen that require a tenant to end the lease before the lease term is over. When this occures, Nesbitt Realty tries to minimize the impact of this event on the owner. If a tenant 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 renter .
Readying the rental investment
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 rental 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 owner's name.
Landlord Reference
a useful source for property owners in Chapel_trails
- Before you move a tenant into your investment in Chapel_trails
- Collections and evictions
- Communications with the tenant
- During the lease term
- End of tenancy and what happens when a tenant breaks the lease
- How does the landlord get paid?
- How your property management company handles the association and your community
- How your rental manager handles utilities
- How Nesbitt finds renters
- Insurance matters for landlords using our property management
- How Nesbitt Realty & Management manage keys
- Chapel_trails property owner responsibilities
- Maintenance, repairs & inspections for your rental property in Chapel_trails
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental
- When landlords don't yet know their new address
- Vetting renters in Chapel_trails