The End of Your Lease is Approaching: What Now?
Renewing a lease or leaving your rental home? Follow these steps before your rental lease expires and avoid any issues.
Is the end of your lease approaching? Are you wondering what steps you should take before your lease expires? There are a few factors you should take into consideration and a few steps you should take as the end of your lease approaches. In this Renter’s Guide article, we share all this important information.
Review Lease Terms
The first thing you should do as the end of your lease term is approaching is to review your lease. The terms of your lease hold important information regarding the end of your lease term. Remember, prior to signing the lease, you should have asked for clarification on any lease terms or lease terminology you did not understand.
First, check the end date of your lease. Next, read the terms which outline a tenant’s responsibility if you do not wish to renew your lease. In most cases, tenants are required to provide their landlord or property manager notice (30 days, 45 days, etc.). Failure to provide this notice could result in your lease automatically extending to a month-to-month lease at a higher rent rate. Not all leases are the same, so always review your lease terms.
Renew Your Lease or Move On
As the end of your lease approaches, it would be wise to reflect on your future housing options. It may be a good time to renew your lease, or it may be a good time to buy a home. Deciding whether to rent or buy is an important issue to consider and we share a few tips for how to decide which route is right for you in this article.
Prior to renewing your lease, shop around and decide if there are better options. As you consider your options, don’t forget to factor one-time costs, such as hiring a cleaning service and renting a moving truck, into your final decision. No matter what you decide to do, you will need to remember to provide notice to your landlord as outlined in the lease.
Know Your Tenant Privacy Rights
You made your decision and you will not be renewing your lease. You notified your property management company or landlord of your decision as required by the terms of your lease. At this time, you need to review your lease again to read the terminology related to marketing and showing the rental property where you reside.
Usually, there will be a clause stating how and when the property manager or landlord can bring potential tenants for a tour of the property. Remember, however, that tenant privacy rights protect you by stating that you must be given notice prior to anyone entering your residence. State laws determine the amount of notice a tenant must be given, and your lease should offer an explanation of this subject.
Be Proactive with Minor Repairs and Cleaning
Want to improve your chances of getting your security deposit back after vacating the rental property? Be proactive and make any minor repairs to return the property to the same condition (minus normal wear and tear) that it was when you took possession. Also, do not wait until the last minute to start cleaning. After loading a truck, you may find yourself in a rush and exhausted, which means you are more likely to do a poor job of cleaning. Starting the cleaning a few days ahead of time will make a huge difference when you move out.
Red Door Company’s commitment to total transparency in the landlord and tenant relationship means renters in our North Carolina rental homes will always have access to clear policies and procedures that outline what is expected when the end of their lease approaches. Have any questions about renting a home in Raleigh, Durham and Chapel Hill from Red Door Company? Do not hesitate to contact us.