End of Tenancy and Breaking The Lease in Penn Laird

At the end of the lease term in Penn Laird, 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 property owner wishes to end the lease, or end our property management services, please send us written notice as described in your rental management agreement.

If 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 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:

1. Month-to-month --- This will include a large rent increase.
2. 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. When this happens, Nesbitt Realty tries to minimize the impact of this event on the rental investor. 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 renter .

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 landlord 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 rental owner's name.