Prospective Tenant Wants Short-Term Lease
Hi BP,
I have a prospective tenant looking to rent out my townhouse in Murfreesboro, TN (Greater Nashville area) for roughly 4-5 months until his new house is finished being built - He has sold his prior home quicker than expected. He has already offered to pay a little over $200/mo. over the listed rent price ($1500 vs. $1295) but had considered asking for $1,600 and a fixed term on the lease. I have listed some pros and cons for the situation below, please let me know what you think. This is my first rental property.
Pros:
-increased rent
-my property would be available again in the middle of the summer
Cons:
-costs associated with turnover (cleaning, paint, etc.)
-possible vacancy in just a few months
-potential marketing expense
-tenant has 3 dogs (1 is a service dog - he is a veteran). This worries me a bit with turnover costs.
-may try to leave earlier and get out of lease if home is finished sooner than expected
Most Popular Reply
Just say "NO'" and find a tenant that meets your requirements. $800 isn't nearly enough to make it worth your while to turn over and re-rent a property. He needs an extended stay motel-hotel.