What happens in Palladium At Mclean when the lease ends?
At the end of the lease in Palladium At Mclean, 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 owner wishes to end the lease, or end our rental management services, please send us written notice as described in your property management agreement.
If 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 contact 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 options:
- 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. 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 property
We will have the carpet professional cleaned upon tenant move-out and the actual cost of carpeting will be deducted from the tenant 's security deposit, per your lease.
We recommend that the rental 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 landlord's name.
Landlord Reference
a handy source for landlords in Palladium At Mclean
- Before you put a renter in your rental in Palladium At Mclean
- Collections and evictions
- Communications with the tenant
- During the lease term
- End of tenancy and what happens when a renter breaks the lease
- How does the rental investor get paid?
- How your property management company handles the association and your community
- How your property manager handles utilities
- How Nesbitt Realty & Management finds tenants
- Insurance matters for landlords using our rental management
- How Nesbitt Realty & Management manage keys
- Palladium At Mclean landlord responsibilities
- Maintenance, repairs & inspections for your rental investment in Palladium At Mclean
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental
- When property owners don't yet know their new address
- Vetting tenants in Palladium At Mclean