What happens in Villages Of Wellington when the lease term ends?
At the end of the lease in Villages Of Wellington, either party can opt to end the tenancy. The rental investor could choose not to renew the lease or the tenant could choose to not to renew the lease. If the landlord 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 property producing the highest possible net income. This means that we will typically 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 choices:
- 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 renters break the lease
Sometimes circumstances arise which make a renter to break the lease. When this occures, 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 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 renter .
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 landlord 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 rental investor's name.
Landlord Reference
a free source for property owners in Villages Of Wellington
- Before you rent out your investment in Villages Of Wellington
- 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 rental investor get paid?
- How your management company handles the association and your community
- How your rental manager handles utilities
- How Nesbitt finds renters
- Insurance matters for rental investors using our rental management
- How Nesbitt Realty & Management manage keys
- Villages Of Wellington rental investor responsibilities
- Maintenance, repairs & inspections for your property in Villages Of Wellington
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your property
- When landlords don't yet know their new address
- Vetting renters in Villages Of Wellington