End of Tenancy and Breaking The Lease in Cross Junction

At the end of the lease term in Cross Junction, either party can opt to end the tenancy. The property 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 conclude our property 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 property producing the highest possible net income. This means that we will typically contact a tenant 6 to 8 weeks before the end of the lease term in order to renew the lease.

At that point we give the tenant two options:

1. Month-to-month --- This will include a large rent increase.
2. Renew the lease --- This will lock the rental investment up for another year with a small rent increase.

When renters break the lease

Sometimes circumstances arise which make a tenant to break the lease. When this occures, 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 investor. 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 rental investor replace the carpet every 5 to 7 years. We recommend that the property 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.