What happens in Lebanon Church when the lease term ends?
At the end of the lease term in Lebanon Church, 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 landlord 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 property producing the highest possible net income. This means that we will often create a new lease for 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 tenant two choices:
- Month-to-month --- This will include a large rent increase.
- Renew the lease --- This will lock the rental property up for another year with a small rent increase.
When renters break the lease
Sometimes things happen which make a tenant to end the lease before the lease term is over. If this occures, Nesbitt Realty tries to minimize the impact of this event on the owner. If a renter 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 tenant .
Readying the rental property
We will have the carpet professional cleaned upon tenant move-out and the actual cost of carpeting will be deducted from the tenant 's security deposit, per your lease.
We recommend that the owner 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 rental owner's name.
Landlord Reference
a handy reference for landlords in Lebanon Church
- Before you move a tenant into your property in Lebanon Church
- Collections and evictions
- Communications with the tenant
- During the lease term
- End of tenancy and what happens when a tenant breaks the lease
- How does the property owner get paid?
- How your rental manager handles the association and your community
- How your rental manager handles utilities
- How Nesbitt finds renters
- Insurance matters for owners using our property management
- How Nesbitt Realty & Management manage keys
- Lebanon Church rental investor responsibilities
- Maintenance, repairs & inspections for your rental investment in Lebanon Church
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental investment
- When property owners don't yet know their new address
- Vetting renters in Lebanon Church