Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

67
Posts
23
Votes
Nancy Carr
  • Real Estate Professional
  • McCalla, AL
23
Votes |
67
Posts

Lease expiration coming.

Nancy Carr
  • Real Estate Professional
  • McCalla, AL
Posted

I have a tenant whose 1 year lease will expire in a couple months.  It is setup to go to month-to-month at that point, and I'm trying to decide whether I want to let it roll to month-to-month or let her know it will not be renewed.

The reason being she has been late on rent in the past 12 months 3 times.  She has always gotten caught up and paid the late fees.  The only other issue I have had with her is that she had a car parked on the front lawn.  After I brought it up, I haven't seen it happen again.  I'm leaning towards letting it roll over to the month-to-month because she has been good tenant other than the few late rents.

Other than being late, she has been a good tenant, no damage to the unit in my walk through a few months ago to replace the furnace filter.   

So my question is, what is your threshold of late rent payments when it comes to lease expirations and subsequent roll over to month-to-months?  What has your experience been?    


Thanks!

Nancy

Most Popular Reply

User Stats

10,256
Posts
16,119
Votes
Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
16,119
Votes |
10,256
Posts
Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

I don't normally do lease renewals, as it just seems to just be a reminder for them to consider shopping for a new place to live.  I like m-m's and have a few that have gone on for over a decade that way.

Here in the north, coming up vacant in the middle of winter is never a good idea.  Alabama may be different, but 'in a couple months' will still be in the holidays.  

I've kept worse tenants than you describe just to reduce my hassle factor, especially during the holidays.  I'd let it roll to m-m and play by ear from there @Nancy Carr.  May turn into a good tenant for years to come!

Loading replies...