What happens in Shen Farms when the lease is over?
At the end of the lease in Shen Farms, either party can opt to end the tenancy. The rental investor 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 end our property management services, please send us written notice as described in your property 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 typically contact a tenant 6 to 8 weeks before the end of the lease 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 property 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. If this occures, Nesbitt Realty tries to minimize the impact of this event on the property owner. If a renter 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 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 rental investor replace the carpet every 5 to 7 years. We recommend that the owner paint every 5 to 7 years.
Utilities
During vacancies we will either put the utilities in our name or in the owner's name.
Landlord Reference
a good source for property owners in Shen Farms
- Before you rent out your rental in Shen Farms
- Collections and evictions
- Communications with the tenant
- During tenancy
- End of lease term and what happens when a renter breaks the lease
- How does the 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 rental investors using our rental management
- How Nesbitt Realty & Management manage keys
- Shen Farms rental investor responsibilities
- Maintenance, repairs & inspections for your rental investment in Shen Farms
- 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 tenants in Shen Farms