What happens in Evergreen Farm when the lease ends?
At the end of the lease in Evergreen Farm, 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 investor wishes to end the lease, or conclude our rental management services, please send us written notice as described in your management agreement.
When we don't receive such notice, we will strive to make choices that will keep your rental investment producing the highest possible net income. This means that we will often contact 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 investment 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. 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 owner. 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 investor replace the carpet every 5 to 7 years. We recommend that the rental investor paint every 5 to 7 years.
Utilities
During vacancies we will either put the utilities in our name or in the landlord's name.
Landlord Reference
a useful reference for property owners in Evergreen Farm
- Before you move a tenant into your rental in Evergreen Farm
- Collections and evictions
- Communications with the renter
- During tenancy
- End of tenancy and what happens when a renter breaks the lease
- How does the landlord get paid?
- How your rental manager handles the association and your community
- How your rental manager handles utilities
- How Nesbitt Realty & Management finds renters
- Insurance matters for property owners using our property management
- How Nesbitt Realty & Management manage keys
- Evergreen Farm landlord responsibilities
- Maintenance, repairs & inspections for your property in Evergreen Farm
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental investment
- When landlords don't yet know their new address
- Vetting tenants in Evergreen Farm