What happens in Port Republic when the lease term ends?
At the end of the lease in Port Republic, either party can opt to end the tenancy. The rental owner could choose not to renew the lease or the renter could choose to not to renew the lease. If the rental investor wishes to end the lease, or end our rental management services, please send us written notice as described in your 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 usually contact 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 options:
- Month-to-month --- This will include a large rent increase.
- Renew the lease --- This will lock the property up for another year with a small rent increase.
When renters break the lease
Sometimes things happen that require a renter to break the lease. When this occures, Nesbitt Realty tries to minimize the impact of this event on the 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 owner. That money is consumed by paying for vacancy and the cost of acquiring a new tenant .
Readying the rental 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 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 free source for rental investors in Port Republic
- Before you rent out your rental in Port Republic
- 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 property owner get paid?
- How your property manager handles the association and your community
- How your management company handles utilities
- How Nesbitt Realty & Management finds tenants
- Insurance matters for owners using our property management
- How Nesbitt Realty & Management manage keys
- Port Republic rental investor responsibilities
- Maintenance, repairs & inspections for your rental investment in Port Republic
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental property
- When owners don't yet know their new address
- Vetting tenants in Port Republic