SFR Investor · South Bend, IN · Member since 2013 · 342 posts · 56 votes
I did a search but did not find anything - feel free to point me to a thread if I missed it.
How soon before lease expiration on an SFR do you ask your tenants (or require them to let you know) if they are renewing?
I have tenants on a 1-yr lease that ends at the end of February. The property is located outside Cincinnati and so winter is a slow time to get new renters. I asked the property manager in November what they typically do, and she said they would touch base with them in January. I asked her to let me know about a week ago when she had talked to them, but haven't heard back.
They are a younger couple and were upset early on because I would not let them paint (blues, purples, oranges), they've been paying on time but haven't heard anything + or - from them since then so it could go either way.
Rental Property Investor · Northern, CA · Member since 2012 · 5k+ posts · 5k+ votes
12y
See what your lease says regarding this issue to be sure, but 30 days notice is pretty common. Also, most leases automatically convert to a month-to-month agreement if the tenant doesn't move out at the end of the term of the lease. But again, check your lease to be sure.
It all comes down to what the Lease Agreement says to answer your question.
In our Lease we require a 30 day notice to vacate. We also schedule an annual inspection about 45 days prior to the Lease expiring and present the Lease Renewal at that time if the home appears to be well taken care of. This gives us the opportunity to have a face to face conversation with the tenant and get an idea of what their intentions/concerns are. If the tenant decides to allow the Lease to go on a month to month an increase in rent kicks in. Even on a month to month a 30 day notice is still required.
SFR Investor · South Bend, IN · Member since 2013 · 342 posts · 56 votes
12y
Ok good call, thanks. This is my first year with this property management company so I couldn't remember, but I just re-read it and the tenants must give 30-days written notice of moving out, otherwise the lease goes month to month. My other SFR is in a college town with a manager I've had for a while, so the schedules in both situations run differently.
Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
12y
Agree with others who said that your lease should state the timeframe to give notice. I would have made that original lease a 14 month lease rather than 12, so as to have the lease end at a more favorable time.
Investor · Southeast, MI · Member since 2012 · 2k+ posts · 1k+ votes
12y
I like to send out a letter about two months before the lease ends. I tell them that they are welcome to stay and explain if there will be an increase in rent. If they sign a new lease, I offer to pay to have the carpet cleaned. If they want to go month to month, there is a significant increase and I plan on them moving out.
Real Estate Agent · Virginia Beach, VA · Member since 2012 · 2k+ posts · 1k+ votes
12y
We've put a 60-day notice in our leases for the last few years as we prefer the extra time to prepare for a turnover. We also prefer to send them notice before that letting them know new rates for renewing for 1 or 2 year terms as we don't want it going month-to-month, although that is in the lease as a back-up.