1 Year Lease or Month to Month

[Charles Carrillo]

I just purchased a duplex in upstate NY, and the current tenants have a month to month lease. I was planning on giving them a new 1yr lease but I wanted feedback on which is preferable in the event I had to evict a tenant. 

[Jeffrey Albaum]

Hi @Charles Carrillo! If you offer them a month to month lease, you can usually charge higher rent than a year long lease as the tenants have more flexibility, and you have more risk that they'll leave at any point. Hope this helps!

[Charles Carrillo]

Thanks Jeffrey!