Should we increase price of a month-to-month lease for good tenants?
Hi friends! Looking for some thoughts. We have really solid tenants in our SFR. Their lease is up in July and they asked for a few more months. We do not have a month-to-month clause in their lease because we wanted to have more control over the timeline and hoped we wouldn't have to re-list it in the winter months. These tenants are ANGELS and we want to keep them happy, but we also recognize that giving them a few more months could push us into the winter, which may mean it'll sit vacant for longer and we'll have to cover that cost. Curious to know — do you increase your rent on a month-to-month basis? Or do you keep it as-is if you know the tenants are great and you want to keep them in there for longer?