When to Notify Tenant When Lease Ends
Owning a residential tenancy apartment or building is a great business. If you are also the landlord of the property, there are certain legal aspects you should always be aware of, and abide by, both for the purpose of being on the right side of the law and from the business point of view. One of the most important among these is to have an understanding of provisions of the tenancy agreement. The validity duration provided in a tenancy lease may vary depending on the landlord’s own preference and perhaps the advice they receive from their legal representatives or property managers, but the most common rental leases are one-year, two-year or three-year agreements. This means that at some point, the lease will come to an end, in which case the parties involved will have to renew the agreement or otherwise. Regardless of the fact that the agreement clearly states its validity period, it is highly advisable that as the property landlord, you notify your tenant when the lease expiry date nears. The pointer below will shed some light regarding when to notify tenant when the lease ends depending on your experience with them during the tenancy period and other prevailing factors. But first things first: – why is it crucial for a landlord to give such a notice to your tenant?
Importance of Giving Tenancy Lease Expiry Notice
Looking at it from your point of view, you would want to find out the intentions of your tenant. In other words, you would want to know whether or not they intend to continue residing on your property. Giving a notice a few weeks or months before the expiry date allows you to be prepared and perhaps start advertising the property as “vacant soon.” It gives you time to plan for the necessary arranges that follow after the property is vacated. If you intend to terminate the agreement upon the lease’s expiry, then giving a prior notice is almost mandatory.
On the other hand, it is also fair to give your tenant some time to look for a new house or apartment, in case they haven’t already done so. Depending on when you serve the notice, you would expect your tenant to respond to your notice, with details on whether they intend to continue living on your property, or perhaps if they need additional time to search for a new place. Either way, notifying them early is important in that it gives both parties some time to renegotiate about renewing the lease or terminating it altogether.
Giving a Notice According To Terms and Conditions
Terms and conditions of tenancy agreements differ with from lease to lease and so do the legal provisions from state to state. Most tenancy agreements require that either party gives a 30-60 day notice in case they intend to terminate the rental agreement during the validity of the tenancy lease. However, the situation is a bit different when it comes to when to notify tenant when the rental lease comes to an end. Most agreements state that the landlord or tenant may choose to renew the lease upon, expiry at their own discretion. This means that it is a matter of mutual understanding.
The Right Time to Provide a Notice
However, a 60-days written notice is in most cases the best to give to a tenant, notifying them that the lease is coming to an end on a certain date. It gives you as the landlord, enough time to inspect the property for any damages, check that the tenant doesn’t have rent arrears, and do other necessary arrangements before re-renting the property (such as cleaning, remodeling, repainting, etc) if it comes to that. It also allows ample time to look for another place in case they too intend to terminate the agreement. By serving a 60-day lease expiry notice, it gets your tenant out in time for another to come in.
Refunding the Tenant’s Security Deposit
It is in most cases implied that a security deposit may be used by a landlord to cover for any rent arrears when the tenant moves out or fixing any damages in case the property’s condition is beyond the normal wear and tear. Giving a 60-day notice allows you to determine the deductions to charge on the tenant’s security deposit in time, allowing you to return the balance to them within the legally provided time to avoid push and pull.