Keep on a Month-Month, or Convert?
My newly acquired Duplex has a long-term tenant on a Month-Month. She has been in for 5 years and has been a good tenant from all info that I have. I approached her about signing a new lease. She does not want to sign a 1 year lease, but would sign a 6 month. I have thought about 2 options:
1. 6 Month lease, followed by a 12 month.
2. Keep her on a month-month.
Option 2 could have some advantages, as if she does not turn out to be a good tenant, I will have an easier out.
What are your thoughts?