End of Tenancy and Breaking The Lease in Rileyville

At the end of the lease term in Rileyville, either party can opt to end the tenancy. The landlord could choose not to renew the lease or the renter could choose to not to renew the lease. If the landlord wishes to end the lease, or conclude our property management services, please send us written notice as described in your 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 usually 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 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 renters break the lease

Sometimes things happen which make a renter to end the lease before the lease term is over. If 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 lose the deposit but this is never a windfall for the rental investor. That money is consumed by paying for vacancy and the cost of acquiring a new tenant .

Readying the rental

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 owner replace the carpet every 5 to 7 years. We recommend that the rental 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.