What happens in Warren County when the lease is over?
At the end of the lease term in Warren County, 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 landlord wishes to end the lease, or conclude our rental management services, please send us written notice as described in your property management agreement.
When 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 often contact 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 tenant two options:
- 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. When this happens, 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 renter to surrender the deposit but this is never a windfall for the landlord. 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 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 owner replace the carpet every 5 to 7 years. We recommend that the rental investor paint every 5 to 7 years.
During vacancies we will either put the utilities in our name or in the rental investor's name.
a good reference for property owners in Warren County
- Before you lease out your rental property in Warren County
- Collections and evictions
- Communications with the renter
- During the lease term
- End of tenancy and what happens when a tenant breaks the lease
- How does the landlord get paid?
- How your property manager handles the association and your community
- How your rental manager handles utilities
- How Nesbitt Realty finds tenants
- Insurance matters for owners using our rental management
- How Nesbitt Realty & Management manage keys
- Warren County landlord responsibilities
- Maintenance, repairs & inspections for your property in Warren County
- 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 Warren County