Renovation, And 3 Other Reasons Why Landlords May No Longer Want To Give Out Their Apartments For Rent

• Every landlord dreams that their rental apartments are always occupied by tenants so that they can get a steady cash flow
• However, there are instances when property owners may no longer want to give out their properties for rent
• Several factors could influence the landlords' decision, so property renters should not always take it to heart

A landlord is normally within their rights to terminate a lease at the termination date stated in the rental agreement unless a clause in the lease specifically states otherwise. Here are a few situations that might lead them to decide not to renew the lease agreement, even though they are not compelled to provide you with a reason.

Issues with the tenant

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You shouldn't experience any issues with your landlord if you're a wonderful renter. Meanwhile, not all renters are nice, and some cause major problems leading to lease terminations. Some examples are property damage, failing to pay rent at the due date or not paying it at all, neighbour noise complaints, or breaking the lease agreement.

It will no longer be a rental property

Sometimes, landlords decide to stop renting out an apartment. They may wish to move in and use it as their regular house or give it out to a relative who has relocated to the city, or they may want to use it as a vacation home for their family, among other reasons.

The landlord is renovating the rental

It's normal for a property to wear and tear over time. A good landlord will know when to make improvements to their property so that it is livable and appealing. It is impossible to have a tenant there while doing major work, such as a complete refurbishment. Most landlords decide against having renters during renovations because projects of that nature normally last months, and it wouldn't be acceptable to evict a tenant for such a lengthy period.

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Another tenant will be moving in

In certain circumstances, landlords will have new tenants secured months before terminating the lease on the property. This is particularly typical in an extremely competitive rental market, as landlords want to ensure they'll always have a renter.

Less Interaction With Tenants, And 3 Other Risks Associated With Taking Rent In Advance

In an earlier story, YEN.com.gh wrote about four risks associated with taking rent in advance. Due to the bulk of the money, collecting rent in advance might assist landlords in finishing projects; nevertheless, significant hazards are involved. It is against the law for landlords to accept protracted advance rent payments in several nations. There are ways that landlords in Ghana can safeguard their finances and property by abolishing the taking of advance rent for one or two years.

Source: YEN.com.gh