What happens in Chester Gap when the lease term ends?
At the end of the lease term in Chester Gap, either party can opt to end the tenancy. The rental 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 end our property 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 investment producing the highest possible net income. This means that we will routinely 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 rental up for another year with a small rent increase.
When tenants break the lease
Sometimes things happen which make a tenant to break the lease. When this happens, Nesbitt Realty tries to minimize the impact of this event on the property 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 rental investor. That money is consumed by paying for vacancy and the cost of acquiring a new tenant .
Readying the property
We will have the carpet professional cleaned upon tenant 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 landlord paint every 5 to 7 years.
During vacancies we will either put the utilities in our name or in the property owner's name.
a handy reference for property owners in Chester Gap
- Before you put a renter in your investment in Chester Gap
- Collections and evictions
- Communications with the tenant
- During the lease term
- End of lease term and what happens when a tenant breaks the lease
- How does the owner get paid?
- How your management company handles the association and your community
- How your property manager handles utilities
- How Nesbitt Realty & Management finds tenants
- Insurance matters for rental investors using our rental management
- How Nesbitt Realty & Management manage keys
- Chester Gap rental investor responsibilities
- Maintenance, repairs & inspections for your rental property in Chester Gap
- 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 Chester Gap