3 Units ready for rent at the same time

[Adriane Boggs]

Hello Everyone

Newbie here! I have just completed renovations on 3 units of a 4 unit building and my tenant in our fourth unit has just moved out. Wow have I learned a lot.

My question is how should I structure my leases in a way that will benefit me in the future. For example do I do all 12 month leases starting the same month? Should I stagger them in some way so I’m not hit with 3 vacancies all at once and also taking into consideration the time of the year the leases will end. November and December aren’t as terrible weather wise as you would imagine in Cincinnati however I don’t want to do turn overs during these months year after year.

Thanks for any advice

[Theresa Harris]

Right now you should be focused on getting them rented.  You could try offering a 12 or 18 month lease with the 18 month lease being slightly lower in rent (or the 12 month being higher).  $25/month should be enough of a difference.