Month- To Month Policy
When your lease is set to expire you have the following options if you have NOT received a 30 day notice from Fett Management.
1) Sign a full term lease
2) Pay $100 in addition to base rent per month*
"Going Month to Month" This option is assumed if you do not take option 1 or 2. This option allows you to only have to give a 30 day notice to move out at any point.
*Please note if we can not reach you with a renewal offer it will be assumed that you vacated you unit by noon on the last day of your lease.
This is considered the “formal” notice and is required to be summited by all residence planning to move out of a Fett Managed property. This includes: If you are moving out prior to the end of your lease and if you plan to move out at the end of your lease.
Re-let Policy
Please Note: This Does not void your lease.
*** We Lease: $250 Upfront Sub Lease Fee*** *** You Lease: $100 Upfront Sub Lease Fee***
If looking to re-let your residence please fill out the form above. We will post the residence for rent on your behalf and notify you of showing through tenant turner text/email. Once qualified new resident has signed lease and paid deposit your lease will be voided.
***PLEASE NOTE: THIS DOES NOT VOID YOUR LEASE.***
What is Re-letting:
Reletting is the process of voiding the original lease with a resident and bringing in a new resident. The new resident is now the leaseholder and the old resident is no longer responsible for the property and rent payments. ... Subleasing is when the resident who initially signed the lease rents out the property to another resident still being responsible for the property and rent payments.
You have two options when it comes to reletting with Fett Management. Please note neither option will void your lease. You are a leaseholder until an approved applicant signs lease agreement and pays the deposit.
Option 1: You re-let unit $100 Your next steps to follow
Respond to this email with Option 1
You will be notified of a $100 re-let fee add to your ledger
Pay the re-let fee
We will send you link with the listing and an application link
You post it all over! Schedule showings! Show unit! And get a person to Fill out the application!
We will be notified of the new application and will send you and email (ideally automated with the statue change to Application Submitted)
We will notify you of approval
Once signed and deposit collect we will void your lease (ideally automated with the statue change to Signed & Deposit)
Schedule move out inspection with Management
Fill out move out survey with new address
Deposit will be mailed within 30 day
***PLEASE NOTE: THIS DOES NOT VOID YOUR LEASE.***
Option: 2 We re-let unit $250
Respond to this email with Option 2
You will be notified of a $250 re-let fee add to your ledger
Pay the re-let fee
We will send you link with the listing and an application link
We will post it all over! Schedule showings (with text notification)! Show unit! And get a person to Fill out the application!
We will be notified of the new application and will send you and email (ideally automated with the statue change to Application Submitted)
We will notify you of approval
Once signed and deposit collect we will void your lease (ideally automated with the statue change to Signed & Deposit)
Schedule move out inspection with Management
Fill out move out survey with new address
Deposit will be mailed within 30 day
***PLEASE NOTE: THIS DOES NOT VOID YOUR LEASE.***
Subleasing Tips!
Clean your unit prior to any showings
Post it for sublease too, you can find the link below and you can post on sites to also try and find a sublease (facebook marketplace, craigslist list, ect.) https://fettmanagementllc.managebuilding.com/Resident/Public/Rentals
Commonly asked questions:
Can I give the new tenant my deposit? No, but you can pay a second deposit for them ex. Your current security deposit is $1000, being held in the owner’s account. You can pay an additional $1000 for their deposit then once you move out we will refund your deposit.
Any tips on renting my unit? Usually it comes down to money for potential applicants so offering to pay a month or two for them is a good incentive. In the past, I had a sub-leaser say he could only pay $250.00 in rent per month, but my rate was $350.00. I just paid the difference in rent per month instead of having no sub-lease and paying the whole rate myself.
Reletting from the lease:
15. ASSIGNMENT AND SUBLETTING. Tenant shall not assign this Rental Agreement, nor relet the dwelling unit, or any portion thereof, without the written consent of Landlord. Tenant shall remain primarily liable for rent and all other charges, and all provisions of the Agreement, unless Landlord has accepted the assignee or sub lessee in writing as substituted for Tenant.
39. ASSIGNMENT AND CANCELLATION.
a. Prohibition of Assignment and Cancellation. Tenant shall not sublet the Unit or assign or cancel this Agreement or any part of their interest without Landlord’s prior written consent. The term “sublet” means a transfer of Tenant’s interest for a period less than the remaining term of the Agreement. The term “assignment” means a transfer of the Tenant’s entire interest in the Agreement to a replacement Tenant. “Cancellation” means the canceling of the Agreement without regard to the remainder of the term.
b. Assignment. Landlord may under certain conditions, agree to allow assignment of Tenant’s interest. The conditions are as follows:
1. Tenant is current on Tenant’s rent and is otherwise in full compliance with the Agreement.
2. Tenant pays Landlord a non-refundable fee of $250.
3. A replacement Tenant is found for the Unit who:
a. Executes a new Dwelling Unit Rental Agreement (the New Agreement) for a term of not less than six months;
b. Pays the security deposit required under the New Agreement;
c. Takes possession of the Unit; and
d. Pays the first month’s rent required by the New Agreement.
c. Continuing Liability. Until the conditions stated in 23.b and 23.c have been met. Tenant shall remain liable under the terms of this Agreement ands shall continue to be liable for rent, utilities, cleaning and any other obligations under this Agreement.
d. Security Deposit. If Tenant is released, Tenant’s security deposit shall be treated under Par. 5 above only after the terms stated in 23.b are met.
e. Time to Vacate Unit. If Tenant fails to vacate the Unit by noon on the day before the New Tenant is to take occupancy, Tenant shall be considered a holdover and will be held responsible for damages under the Iowa Code.
f. Not a Novation. Tenant agrees that unless Tenant is released as provided above, the New Agreement executed by the New Tenant shall not constitute a novation, but shall be treated as an assignment and Tenant shall be deemed to have executed such New Agreement as part of the assignment.
Thank you for being a great resident, we are sad to see you go.