Month to month lease to counteract COVID renter delinquency risk
Hey guys, just a quick bit of food for thought and discussion.
I understand that screening tenants is crucial nowadays but I am starting to think that going with a month to month lease agreement for new tenants will be a good way to counteract the effects of COVID. The potential of renters losing their jobs and becoming delinquent is a huge concern for me as I am reading story after horror story of squatters, etc. There is also a good chance that dealing with the courts might end up being even more of a hassle when the eviction moratoriums end with backlog, delays, etc.
Then again, on the other side of the coin, I will probably be cutting my renter pool down because of the fact that the renter would not have the security of a long term lease in these times.
I might have just answered my own questions but you guys have any thoughts?