End of Tenancy and Breaking The Lease in Broad Run

At the end of the lease term in Broad Run, 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 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 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 renter two options:

1. Month-to-month --- This will include a large rent increase.
2. 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 renter to break the lease. When this happens, Nesbitt Realty tries to minimize the impact of this event on the rental owner. If a tenant 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 tenant .

Readying the rental investment

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 investor 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 rental owner's name.