What happens when a tenant’s lease expires?
The lease is examined 30 days before it expires to determine if we want to keep the tenant or not and to see if the rent can be increased. Once FTI determines the course of action, the owner is notified and is provided a recommendation. Tenants require a 30 day notice if the rent is going to be increased, if the lease is not going to be renewed. If the lease is allowed to expire, the lease automatically converts to a month-to-month lease.
