What happens in Thunder Oak when the lease is over?
At the end of the lease term in Thunder Oak, either party can opt to end the tenancy. The 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 rental management agreement.
When we don't receive such notice, we will strive to make choices that will keep your rental producing the highest possible net income. This means that we will often 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 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 renters break the lease
Sometimes things happen that require 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 rental owner. If a tenant 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 tenant .
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 landlord replace the carpet every 5 to 7 years. We recommend that the rental 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.
Landlord Reference
a good source for landlords in Thunder Oak
- Before you put a renter in your rental property in Thunder Oak
- Collections and evictions
- Communications with the renter
- During tenancy
- End of lease term 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 landlords using our property management
- How Nesbitt Realty & Management manage keys
- Thunder Oak rental investor responsibilities
- Maintenance, repairs & inspections for your rental property in Thunder Oak
- 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 tenants in Thunder Oak