we are looking to get a tenant in June and was wondering if it makes sense to only offer a month to month right now? Just with all the abuse going on with people not paying there monthly rent. This would offer protection in case things go south? This is a 3bed 2 bath townhouse in northern Virginia.
Rental Property Investor · Herndon, VA · Member since 2017 · 65 posts · 20 votes
5y
@Selma Nunes that's not a bad idea with everything that's going on. I would consider checking out the Ultimate Guide to Tenant Screening if you have done so already (link below). Are you renting by the room or the entire unit?
Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
5y
@Selma Nunes that's actually a pretty decent idea...very creative. They only thing I would check is if local laws or ordinances with regards to evictions might apply. In other words if you did offer a 6 month or 1 year lease, would they still be able to stay past the lease if the moratorium continues? and then is there some language you can put into your lease that would allow you to void the lease in case of "abuse" as you say. Perhaps a question for a local real estate lawyer. I'd just hate for you to be month to month but because they technically "had a lease" for a month even though it expired is there still away they can stay legally given the circumstances. I don't know...that's just what I'd be checking if in your situation.
But it is a great idea of how to operate and be agile given the environment!