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Updated about 6 years ago on . Most recent reply

Wendell Torrey's profile image
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Wendell Torrey
  • Investor
  • from Grand Rapids, MI
  • Member since Feb 21, 2018
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Wendell Torrey's profile image
Wendell Torrey's profile image
Wendell Torrey
  • Investor
  • from Grand Rapids, MI
  • Member since Feb 21, 2018
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Wendell Torrey
  • Investor
  • Grand Rapids, MI
1
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21
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General Landlording & Rental Properties

Is there a down side to a three year lease

Wendell Torrey
  • Investor
  • Grand Rapids, MI
Posted

I have two good tenant candidates. Both are relocating with their company. One is looking for a 12 month lease and the other has asked for a 3 year lease!

All things equal is there a down side to the three year lease?

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Jason D.'s profile image
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Jason D.
  • Rental Property Investor
  • from St. Petersburg, Fl
  • Member since May 8, 2017
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Jason D.'s profile image
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Jason D.
  • Rental Property Investor
  • from St. Petersburg, Fl
  • Member since May 8, 2017
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Jason D.
  • Rental Property Investor
  • St. Petersburg, Fl
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Jason D.
  • Rental Property Investor
  • St. Petersburg, Fl
Replied

@Wendell Torrey the downside is that you're stuck with this tenant for 3 years. Go 1 year then renew another year if all went well

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