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Video Transcript:

Hi, Todd Ortscheid here with GTL Real Estate. This week just a quick video to go over the beginning of the move out process, which is basically the Notice to Vacate.

Keep in mind that your lease could be different than what I’m about to discuss if you signed a lease with a different company and we took over management in the middle. The stuff in this video only refers to our standard lease process.

So if you’re on our typical lease, if you signed a lease with our company, whether during your initial move in or for a renewal, then this all applies to you. So 95% of you, this applies to. If you’re one of those rare people who we took over management of the property while you were in the middle of a lease and you’re still on that original lease, then you’ll need to refer to whatever is in that lease for what your notice requirement is, so be sure to check on that. But for everybody else on our lease, everything in this video should apply to you.

So the notice requirement in both the Georgia and the Florida lease is 60 days and that is two full calendar months. So you can’t give notice in the middle of a month for 60 days later in the middle of another month. The way it works is it has to be two full calendar months. So for example, if your lease ends at the end of December, so December 31st, you would have to give your notice before November 1st. So you have to have two full months of notice is required. So you can’t give that notice on November 5th. You can’t give it on November 2nd, either. We have to have the two full months in order to comply with your lease.

So after you give that notice, you’re basically locked in; that because we’re putting a process in place to get that property listed for rent. We’re going to send someone out there to put up a sign and a lock box. All the processes start moving for your move out and for finding a new tenant. So it’s important, when you put in that notice, make sure you really mean it. Don’t just put it in because you’re thinking about leaving. Make sure you really mean that you’re going to move out because if you want to cancel that notice after you put it in, it’s really questionable whether you can do that. It all depends on whether we’ve already found another tenant or not.

For example, if you put in your notice and then three weeks before you’re scheduled to move out you want to cancel it and we’ve already found another tenant, it’s too late. We can’t cancel the notice at that point because we have already signed a contract with a new tenant. They’re expecting to move in. They’ve got their binding lease agreement so we can’t do anything at that point.

So if you’re going to cancel that notice, it’s really a question of whether we can do that or not, depending upon the circumstances. So all you can do is request it. There’s not an ability for you to just straight up cancel it. After the notice is given, you may or may not be able to withdraw that notice. It just depends on what the case may be but there is a place where you can go if you want to try to do that.

If you’ve put in your Notice to Vacate and you want to try to withdrawal that, we have a website that you can go to. It’s http://cancelnotice.gtlrealestate.com. If you go there, there’s a form you can fill out, basically put in your name and address, agree that you want to cancel your notice, and it’s going to have a check box there where you have to agree that if we accept your Notice to Cancel, that there’s a $250 fee that’s due to cancel that notice. So you have to agree to all of that. Then you hit submit and that doesn’t mean that your notice is automatically canceled. What that means is it goes to us to review and then what we have to do is take a look to see if anyone else has applied to rent that property. If they’ve already paid an application fee, if somebody’s put down a security deposit, there’s a whole lot of things we have to look at there to determine whether you can still stay in the property or not. If someone else is already lined up to take that property, you won’t be able to.

So, we’ll receive your request after you submit that form. We’ll review it and then we’ll let you know usually within 24 hours, business days, you know, not during the weekend, obviously. But, usually with 24 hours we can get back to you and let you know whether we can do that or not. And we will respond, in writing, so it will be by email, so make sure you check your email.

If we do accept that, and withdraw your notice, then like I said, the $250 fee is due. And there’s a reason for that. It’s because as soon as you put in your notice, like I said, the whole process starts to try to get the property re-rented again. So we’ve got employees that are going out to put up a sign and lock box. We’ve got a staff that’s putting a listing up for the property. We’re starting to take phone calls on it. We might have done some showings. There’s a whole lot of work that’s gone into getting that property rented so now if you’re deciding, “Well, I’ve changed my mind,” then we have to compensate those people somehow. Normally they would be compensated for all that work when a new tenant is placed because the landlord pays us a fee for that. So now, if we’re not going to be placing a new tenant, then there’s not going to be a fee received so we have to pay those people another way and the way we have to do that is with that $250 fee for you to cancel your notice. That’s the reason for that fee. That’s why we have to charge that if you decide you want to cancel.

So, the important thing to remember there is don’t submit Notice to Vacate unless you’re really sure you want to leave. If you’re just thinking about it, don’t do that unless you’re right up on the two month’s notice and you’ve got no other choice; you have to put in your notice just so you have that ability, you might need to do that. But otherwise, if you’ve got three months left and you’re not sure you want to vacate, don’t put in that notice until you’re sure.

Last thing I wanted to talk about was month to month notice. So if your lease is on a month to month status, then the requirements for notice are different in Georgia and Florida. So if you’re in Georgia, it’s still the same two month notice requirement. So if you’re month to month and you want to leave at the end of December, it’s the same thing. You still have to give that notice before November 1st, in order to do that. Just because it says month to month, doesn’t mean you can give notice month prior. That’s not how it works. It’s still a two month notice requirement. Month to month just means you don’t have a long term lease in place.

In Florida, it’s a shorter requirement. It’s by state law. It’s only a 15 day notice requirement. So it’s a little bit different there. You’ve got a lot more time but you still have to put that 15 day notice in when you’re on a month to month lease. Again, that’s only for month to month. If you’re on a fixed term lease, it’s still the two full calendar months. The 15 days only applies if your lease has lapsed and you’re on a month to month lease at that point.

So that brings up a question. If you withdraw your notice to vacate, how does that work if you don’t sign a new lease? So, let’s say you put in your Notice to Vacate and to terminate your lease in two months. You change your mind. You turn in your cancellation. We accept that. Now you’re locked in. Your notice is gone. You can’t change your mind at that point and decide, “You know what, I still want to move out at the end of my lease like I originally said.” Can’t do that anymore. Now, we’re starting a new two month notice period. So, even if you don’t sign a new lease, you’re still basically considered a month to month once your lease ends, so you still have to give that two full calendar month notice, or in Florida, 15 days, once it goes month to month.

But basically what you’re doing when you put in that notice that you want to cancel your Notice to Vacate, then you’re basically locking yourself in for staying in the property. You can’t change your mind after that. So, it’s really important that you know what you’re doing when you put in your notice originally to vacate and then if you decide to cancel that notice, in both cases, you want to be really sure that that’s what you want to do because there’s certain consequences for that in your contract that you want to make sure you’re abiding by.

So keep all that in mind. If you have any questions, send us an email, support@gtlrealestate.com and we’ll be happy to answer those.