I personally require annual lease but other landlords dont mind month to month leases. This puts me in control of what seasons I have vacancies and ensure that I could re-rent quickly. That being said, you might want to charge a higher rate for the renter having the privilege of terminating the lease in the middle of the winter or other unfavorable seasons where vacancy is higher. tenants like having options, so maybe you can consider presenting them $XXXX at 12 month lease, or XXXX plus $50-$100 for a month to month option. Tenant needs to know that they will have to pay a premium for having flexibility with regards to moving out on their terms and let them know it takes longer to find new tenants during certain parts of the year.
This house rents for $2700 per month. Is $50-100 per month enough?
M2M or term make no difference on when a tennat leaves. Tenants do not like moving in winter which is why filling winter vacancies is more difficult. It has nothing to do with the fact that landlords have term leases end in the summer months. Tenants leave when they choose. If all term leases ended in the winter more tenants would be breaking their leases in the summer.
I believe the use of M2M for all tenants allows landlords better control over the business in regards to bad tenants. This is far more important that worrying about whether I have any control over when tenants will move out. When they move has nothing to do with their lease, they mve in th esummer by choice not by lease.
Updated about 1 year ago
Unfortunately few landlords believe this to be true and will stick with their old beliefs.
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