End of Tenancy and Breaking The Lease in Luray

At the end of the lease term in Luray, either party can opt to end the tenancy. The landlord 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 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 routinely create a new lease for a renter 6 to 8 weeks before the end of the lease in order to renew the lease.

At that point we give the tenant two options:

1. Month-to-month --- This will include a large rent increase.
2. Renew the lease --- This will lock the rental up for another year with a small rent increase.

When renters break the lease

Sometimes circumstances arise 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 rental investor. 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 landlord. 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 property 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.