Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
5y
Some people and maybe most people like long term leases, including me. However I have a friend who only used Month-to-Month. If something changed he didn't like, he would raise the rent any time with 30 day notice. His lease was very simple about 2 pages....not the 11 pager I use. His theory was long term leases tie you to the tenant, not the tenant to you. Realistically they can leave any time, lease or no lease, maybe just physiologically they won't leave. However with MTM lease, you can also change things as needed with notice...most places 30 days....so for example if tenants don't want to pay under Covid ...maybe you could raise the rent enough to encourage them to move along. No one ever said they don't have to pay...just not pay right now and if they don't you can't evict. I haven't seen anything that says you can't raise the rent. My thought is you probably don't want to go crazy with rent increases, but what you can justify, perhaps late charges for forbearance, or attorney's consultation fees to deal with them, you could potentially recover in rent increases