What happens in Prince William County when the lease is over?
At the end of the lease in Prince William County, 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 property owner wishes to end the lease, or conclude our rental management services, please send us written notice as described in your rental 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 often create a new lease for a renter 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 property up for another year with a small rent increase.
When renters break the lease
Sometimes things happen which make a renter 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 tenant to lose the deposit but this is never a windfall for the landlord. 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 owner paint every 5 to 7 years.
During vacancies we will either put the utilities in our name or in the rental owner's name.
a useful source for landlords in Prince William County
- Before you rent out your rental property in Prince William County
- Collections and evictions
- Communications with the tenant
- During tenancy
- End of tenancy and what happens when a tenant breaks the lease
- How does the owner get paid?
- How your property management company handles the association and your community
- How your management company handles utilities
- How Nesbitt Realty & Management finds tenants
- Insurance matters for property owners using our rental management
- How Nesbitt Realty & Management manage keys
- Prince William County landlord responsibilities
- Maintenance, repairs & inspections for your property in Prince William County
- 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 Prince William County