Propman Property Management manages residential property for our property owners, and part of that process is renewing tenant leases. To ensure the smoothest transition from one lease to another, or for renewal from year to year, we have solid systems in place.
The Propman Lease Renewal Process
The renewal process actually begins 60 days before the lease termination date. We check with each landlord to ensure that they want to renew a current lease. Then, we contact each tenant listed on the lease, asking them if they wish to renew. If both are in agreement, and there are no adjustments such as rent increases or decreases, we issue a lease extension that covers the same terms listed in the existing lease, and extending the expiration date for one year. If the tenant chooses not to renew, they are required to give us 30 days’ notice.
After the tenant vacates the property, we make sure the utilities are put back into the landlord’s account and inspect the property and make or suggest needed repairs, if there are any. We strive to make the process seamless for owners.
In addition, at the point of lease renewal, the property owner has the option of putting the property on the market instead of issuing a new lease. He or she can also sell the property with a tenant in place at any time of the year, with the tenant’s lease conveying to the new owner.
Do You Need to Rent Out Your Home?
Since 2003, Propman Property Management has been providing professional property management and rental of residential properties in Northern Virginia. If you have a property you’d like to rent, please contact us.
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