Rental Property Investor · Jonesboro, AR · Member since 2017 · 19 posts · 2 votes
I have a current tenant and their lease has expired. The lease expired in November and we’ve discussed them paying month to month. Should I have the tenant sign a new lease? Is it too late? My current lease allows for a 30 day notice when my tenant wants to move out.
I would simply present the offer to have a new lease drawn up. There are benefits to both you and your tenant to have a fixed lease. Most tenants from my experience in property management prefer a lease rather than month to month as it offers them security of a home for that term.
No reason not to leave them M2M indefinatly. Many tenants simply go M2M at the end of their first term and stay that way until they move. If you are keeping them then they have proven themselves and in return if they stay they are happy with you as a landlord. Leave them on the original lease as M2M and just apply the annual rent increases as normal.