Higher Rent for a Shorter Lease
I am currently screening tenants for my first single family home. I have had several decently qualified candidates. One requested a 6 or 8 month lease. I told him during his initial contact with me that I would work with the right person. When I sent him the application link, I informed him that I would charge more for rent due to him planning on being a short-term tenant and I have the known cost of a vacancy coming sooner than someone with a 12 month lease. He decided to move on.
Listed rent is $825, I told him $950 for 6 month and $925 for an 8 month.
I am trying to decide if this was dumb, smart, greedy, or what. Love to hear your thoughts.
Most Popular Reply
- Rock Star Extraordinaire
- Northeast, TN
- 16,846
- Votes |
- 10,491
- Posts
We charge 10% premium for a short term lease in-season (Mar-Oct). No charge out of season since I prefer to just have it rented rather than vacant out of season.
Someone who didn't want to pay it? I'd let them move on. I don't want objectional people anyway.
- JD Martin
- Podcast Guest on Show #243
