What happens in Ashley Park when the lease ends?
At the end of the lease term in Ashley Park, either party can opt to end the tenancy. The landlord could choose not to renew the lease or the tenant 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 management agreement.
If we don't receive such notice, we will strive to make choices that will keep your rental property producing the highest possible net income. This means that we will usually create a new lease for 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 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 things happen which make a renter to end the lease before the lease term is over. If this happens, Nesbitt Realty tries to minimize the impact of this event on the landlord. If a renter leaves with little or no notice, this will surely cause the renter to surrender 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 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 property 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 handy reference for landlords in Ashley Park
- Before you put a renter in your investment in Ashley Park
- Collections and evictions
- Communications with the renter
- 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 management company handles utilities
- How Nesbitt finds renters
- Insurance matters for owners using our rental management
- How Nesbitt Realty & Management manage keys
- Ashley Park rental investor responsibilities
- Maintenance, repairs & inspections for your rental property in Ashley Park
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental investment
- When owners don't yet know their new address
- Vetting renters in Ashley Park