6 month Lease vs 1 Year
Morning!
I have a fully remodeled home (was originally intended to be a flip) in my community. I decided since it's the dead of winter, it would be a bad idea to list it - it would likely sit 90-120 days on the market until the "spring thaw," leaving potential buyers thinking "Why has it sat so long? Must be something wrong" and also "120 days? It should be marked down!"
So, I decided what the heck...I'll try renting it for $1000 a mon, no utilities.
For my area, that's very steep (most places are around $600).
I finally have a very promising tenant coming to visit (retired government worker here to help with a trust) and to check it out.
However, they want a 6 month lease.
A definite pro I see is that their lease would expire in June - during peak listing and selling season. A major con of it is that, well, who knows...maybe they aren't a good tenant.
My question - Are there any major things I need to be aware of with a 6 month lease vs a 1 year? I feel like I've read somewhere that 6 months is riskier.
Thanks!