Rent premium for 6 months lease via 1 year lease

[Inga Davis]

Hello,

I was approached by a temporary housing company. My property is currently listed for rent at $1700/month as a long term rental (1 year lease) in Columbus Ohio (43219). The housing company is looking for a 6 month lease for a family who was displaced from their home and are looking for a 6 month lease. They mentioned that they are willing to pay a premium for a 6 month lease that most property owners charge.

My question is what would be an appropriate premium for a 6 month lease if I am asking $1700/month for a 1 year lease? I have no experience with temporary housing companies, but I know the rent would be guaranteed and paid directly by the insurance company which makes it attractive to me, then again I will have to look for new tenants in 6 months. 

Thank you,

Inga

[Kevin Sobilo]

@Inga Davis, I think the minimum I would consider is the amount an additional vacancy/turnover will cost me.

So, if it takes me 1 month on average to have a new tenant in place and $700 worth of work then the total is $2400 equates to a $400/month premium for a 6 month lease.