Are you are planning to move out of your apartment when the lease runs out? If so, it's important to let the landlord know that you won't be renewing for another year. This is called "giving notice" and in most states, notice should be given at least 30 days before the end of the lease.
While you can tell your landlord in person, "Hey, I won't be renewing my lease," it's really much better to put this notice in writing. A written notice is the only proof you have that proper notice was given at all. This notice can be hand delivered (get a receipt from the landlord, however) or sent registered mail.
Why you should give a 30 days notice
Somewhere on your lease is a provision that describes what happens when notice isn't given. In many cases, the lease automatically converts to a month-to-month tenancy which means that you will be expected to pay rent for the upcoming month, even after you've moved out. While this might not seem fair, not telling your landlord that you'll be moving is not fair to us. Here's why:
- It takes time for us to find a new tenant. Advertising the property, accepting applications, checking references, and interviewing possible tenants can take several weeks.
- Can't schedule workers for repairs on short notice. Most landlords don't have maintenance workers on "standby" who can repair, clean, & repaint a vacated apartment on a moment's notice. Letting us know that you won't be renewing gives us ample time to make these arrangements.
- Loss of revenue. Just like other homeowners, owning a rental means mortgage payments, property taxes, insurance premiums, HOA dues, and other costs that still have to be paid, even if the house sits empty. Lost revenue puts a strain on our finances which is why most landlords try to avoid vacancies. Proper notice shortens the turnaround time so that the rental doesn't sit vacant any longer than necessary.
Not giving proper notice can hurt a landlord financially. This is why a tenant who forgets to tell the landlord he'll be moving out is charged that extra month's rent and probably won't get a glowing referral to the next landlord. The good news is if the landlord is able to find a new tenant who can move in before the month runs out, your extra rent payment will be prorated which entitles you to a bit of a refund.
More by this contributor:
Guide to apartment hunting for college students.
How to live on a minimum wage income.
Is it legal for landlords to require renter's insurance?
While you can tell your landlord in person, "Hey, I won't be renewing my lease," it's really much better to put this notice in writing. A written notice is the only proof you have that proper notice was given at all. This notice can be hand delivered (get a receipt from the landlord, however) or sent registered mail.
Why you should give a 30 days notice
Somewhere on your lease is a provision that describes what happens when notice isn't given. In many cases, the lease automatically converts to a month-to-month tenancy which means that you will be expected to pay rent for the upcoming month, even after you've moved out. While this might not seem fair, not telling your landlord that you'll be moving is not fair to us. Here's why:
- It takes time for us to find a new tenant. Advertising the property, accepting applications, checking references, and interviewing possible tenants can take several weeks.
- Can't schedule workers for repairs on short notice. Most landlords don't have maintenance workers on "standby" who can repair, clean, & repaint a vacated apartment on a moment's notice. Letting us know that you won't be renewing gives us ample time to make these arrangements.
- Loss of revenue. Just like other homeowners, owning a rental means mortgage payments, property taxes, insurance premiums, HOA dues, and other costs that still have to be paid, even if the house sits empty. Lost revenue puts a strain on our finances which is why most landlords try to avoid vacancies. Proper notice shortens the turnaround time so that the rental doesn't sit vacant any longer than necessary.
Not giving proper notice can hurt a landlord financially. This is why a tenant who forgets to tell the landlord he'll be moving out is charged that extra month's rent and probably won't get a glowing referral to the next landlord. The good news is if the landlord is able to find a new tenant who can move in before the month runs out, your extra rent payment will be prorated which entitles you to a bit of a refund.
More by this contributor:
Guide to apartment hunting for college students.
How to live on a minimum wage income.
Is it legal for landlords to require renter's insurance?
Published by C. Jeanne Heida - Featured Contributor in Business & Finance
Jeanne is a small business owner with 25 years experience in the real estate industry. A consistent Y!CN Top 100 writer, her articles can be found at Y!Finance, Shine, Your Wisdom, DEX, and the Scripps Net... View profile
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6 Comments
Post a CommentGreat article! =0)
Good advice! Thanks for adding your voice to the thread about Facebook. It's ridiculous.
Excellent advice!
Great points, thanks!
I was a renter once and had a wonderful relationship with my landlord. I gave her plenty of notice when I was going to relocate. Cheers :)
Great advice!