A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
Keeping your options open with Tenants
One big decision a Landlord has when a Lease comes up for renewal
is whether to ask for a year extension on the Lease or to let the lease expire
and continue the tenancy on a month to month basis. When making this decision
you have to take a few things into account.
Too often a Landlord just wants to tie the Tenant up for another year,
without thinking about the problems that can be created by locking up the
property for a year with a Tenant that may not be a good fit for one reason or
another.
Making recommendations
In my business of Property Management in Orange County Ca. I
look at a couple of things when I make my recommendations to my clients.
First
is the Tenant paying the rent on time? That is the one big factor, if a Tenant
every month is struggling with the rent; it is a huge mistake to tie them up
for any term. It is much better for the Landlord and Tenant to go to a month to
month Tenancy. This takes the pressure off the Tenant, if they need to find a
less expensive place to live, and it relieves the Landlord from being locked in
with a troubled Tenant.
Second, what are the long term plans my client has for the
property. Do they want to sell in the near future? Are they satisfied with the Tenant or would
they rather keep their options open? Do they want to raise
the rent?
In my business of Property Management in Anaheim Ca. Keeping the Landlord happy, but also looking out for their best
interest is my first priority, but I also do not want a Tenant who will
struggle for the next year to pay the rent.
The next thing I look at is the Tenant constantly
complaining about the property. If they are not happy, it is better to keep
them on a month to month lease and let them know that they may want to find a
place more satisfactory to their needs. This gives both the Tenant and the
Landlord more flexibility, but keep in mind that if a Tenant has been in the
property for more than 1 Year and you want them to move out, you still have to
give them a 60 day notice, whether they have a Lease or a month to month
Tenancy.
Property Management means more than just collecting the
rent, as a property Manager you need to advise your clients on what is best for
their needs. It is always a comfort to a Landlord to have a long term lease, that
way they know that their property will be filled for that time period, but it
is up to the Property Manager to make sure they know the Pro’s and the Con’s of
that decision.
A.D. Cantelmo Property Management Specializes in Property
Management on Orange County Ca.