What's your favorite type of lease?

[Austin Steed]

For a long time I was on the 1 year lease train. Be patient, find a good tenant and then lock them in for a year. I've had success with this for my first 10 rentals or so in Columbus OH. However, my most recent lease I wish there wasn't that year in place.. 

Recently I've been talking with some old school guys, whom I love learning from, and they are big advocates of starting off leases month to month. And I quote "this gives me time to see if I like dealing with them and for them to see if they like dealing with me."

I think my game plan will now be to get tenants in place on a month to month lease. Inspect the unit after about 6 months or so and if they pay on time and property looks good THEN maybe lock in a year lease. 

What are your thoughts BP? Do some people approach renting this way? I know I have some clients that love 2 year leases. Maybe some people have some success with this route too? 

[Jonathan Styer]

I always look at the time of the year to determine the length of lease. If we are heading into winter I prefer to do like a one and half year lease to line up the end of the lease with the warmer months. Never have started off month to month, I have heard of people doing that but it makes me nervous.