Updated almost 10 years ago on . Most recent reply
Month to Month versus Yearly Lease in Northern Florida
Just about finished renovating a 2nd house that I own. Seeking to begin renting January 1st. Have never been a landlord before. As such, is it best to do a Month to Month (1st months rent and one month security deposit) or a Yearly Lease (1st and last months rent + security deposit)? I thoroughly comprehend the screening process and the dos and don'ts of qualifying prospective tenants. Just need to be aware of the pluses and minuses related to month to month and yearly.
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@Davison Horst I would caution short term leasing. Especially when it comes to lending. My bank would not add your month to month leases into your cashflow analysis. I personally do annual.