I have a tenant coming off a lease and am trying to get him to sign a six month extension. He is resisting because he is building a house that is supposed to be done in December. He wants to continue to rent only month to month. I live in Nebraska and have had to try to fill vacancies during this time and it takes till April to fill them. My only thought at this time is continue to try and persuade him to sign it or start raising the rent considerably. Any other ideas?? He has been a great tenant otherwise and I really don't want to pick a fight.
Chapel Hill, NC · Member since 2017 · 50 posts · 28 votes
7y
I think that there is a lot of value to ending things on a good note. He will work harder to keep you happy when he moves out if you can keep things positive. I am particularly fond of the something along the lines of "Well, you know that by moving out in December, you're putting me in a position where I'm going to be losing money for a few months. What do you think would be a fair deal?"
Specialist · Riverside, CA · Member since 2015 · 6k+ posts · 3k+ votes
7y
You probably don't have a lot of options here because if you gave him notice to vacate now you might already be in the slow season by the time he gets out of the unit. Month to month may be your only option, however the good news is that if his builder, contractor etc. is telling him December it will probably be January or February in reality.
Chapel Hill, NC · Member since 2017 · 50 posts · 28 votes
7y
I think that there is a lot of value to ending things on a good note. He will work harder to keep you happy when he moves out if you can keep things positive. I am particularly fond of the something along the lines of "Well, you know that by moving out in December, you're putting me in a position where I'm going to be losing money for a few months. What do you think would be a fair deal?"
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
7y
I like Roberts suggestion. I would simply offer 6 months at the current market rate and month to month at a couple hundred a month more. You don’t want to be empty in December, they don’t want to move out fo your place and rent somewhere else for 2 months. Find out if your state is a 30 or 60 day notice to end month to month leases.
If it’s 60 days notice you should have plenty of time to find a replacement. If it’s 30 days maybe you offer a soulless month sof discounted rent to the new tenant based on the extra you collected from the current tenant.