What happens in Linville when the lease term ends?
At the end of the lease in Linville, 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 owner 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 property producing the highest possible net income. This means that we will usually create a new lease for 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 options:
- 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 things happen which make a tenant 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 tenant to surrender the deposit but this is never a windfall for the property owner. That money is consumed by paying for vacancy and the cost of acquiring a new renter .
Readying the property
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 property owner 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.
Landlord Reference
a free source for property owners in Linville
- Before you rent out your investment in Linville
- Collections and evictions
- Communications with the tenant
- During tenancy
- End of tenancy and what happens when a renter breaks the lease
- How does the landlord 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
- Linville property owner responsibilities
- Maintenance, repairs & inspections for your rental investment in Linville
- 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 renters in Linville