End of Tenancy and Breaking The Lease in Luray

At the end of the lease 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 conclude our management services, please send us written notice as described in your rental management agreement.

When 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 create a new lease for 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 renter two choices:

1. Month-to-month --- This will include a large rent increase.
2. 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 renter to break the lease. When this happens, 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 lose 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 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 rental owner's name.