Premium for shorter lease?

[Luke H.]

Happy Holidays from Texas!

New house, totally remodeled, potential tenant is asking for 6 month lease, with month to month after lease ends.  I prefer 1,2,or 3 year lease.

a) Should I charge more for a shorter lease?

b)Is that common and legal?
b2) If so, how could I determine how much more? 

The area has rents are all over the place, so hard to determine.

Can I require them to have renter's insurance?  They have a dog and want to make sure I am covered.

Thanks

[Bill B.]

I charge market for 2 year leases, plus $25/mo for 1 year and plus $50/mo for month to month, I don’t want the turn over. If you don’t know you want to be there for 2 years I don’t want you. 

I’d charge at least an extra $25/mo now and $25/mo more when it goes to month to month or a flat $50/mo extra starting day 1. Maybe a larger security deposit as you’re going to split the wear and tear over a shorter period.