Do I need to disclose if I can only do 1 year lease?

Question

Hi BP,

It's been a while since I posted here. I recently posted a rental and there is a possibility that I will be moving into the place in about a year.

Am I required to disclose that in the Ad? During open house, I mentioned this to everyone, and 1 of them actually not happy I said that.

I am still unsure if I want to move in next year, but definitely a possibility.

The place has been rented now to someone else who wants only 1 year lease. However, I'd like to know what should I do in the future to avoid conflicts.

Thanks,

TH

Tyler Gibson · Answer

@Tony H. I can't think of any reason why you would have to disclose this if the lease is only for one year. I tend to look at my leases as 1-year commitments and after each year I decide if I want to re-up or do something different. At some point, I plan to rehab and potentially flip my property but I don't know when and I don't have to tell my tenants that unless I end up deciding in the middle of their lease and have to come to an arrangement with them.

Tony H. · Answer

Make sense. Thank you!

I wouldnt mention anything next time.

I thought about disclosing it because I didnt want the hassle of having to "kick" someone out 1 year from now. My rental is geared for a long term, and the tenants who are interested are mostly families who is looking for a longer term.

So I was just trying to be nice to them by letting them know in advance. But I guess not everyone is happy with my intention.

Tony H. · Answer

Thank you!

Dale Nesmith · Answer

@Tony H.

Don’t say anything. Plans or opportunities may change in a year. Once they fulfill their year lease then let them know if your plans.

Do I need to disclose if I can only do 1 year lease?

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