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132
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21
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Patrick Q.
  • Investor
  • Jersey City
21
Votes |
132
Posts

Lease Duration/End Date Jersey City

Patrick Q.
  • Investor
  • Jersey City
Posted

Hello All,

I just renovated 1 unit in a house hack in Jersey City NJ and am ready for a tenant.

The lease would begin on November 1st.

I am told that it is not legal to do less than a 12 month lease in NJ.

This means that the lease would end in October of next year.

I would rather have the lease term end in the Summer so that I would have a greater selection of potential tenants.

Also I fear that if I could end up with a vacancy through the Winter.

Does anybody have any information that could help me here as to how I could possibly-legally have the lease end in the Summer?

One option would be to do a 19 month lease. 

Any help would be greatly appreciated.

Most Popular Reply

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71
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49
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Steve Schulman
  • Real Estate Agent
  • Jersey City, NJ
49
Votes |
71
Posts
Steve Schulman
  • Real Estate Agent
  • Jersey City, NJ
Replied

6 month is OK, but I would shoot for 18 month lease first. Ask the tenant if they would be interested in 1.5 year lease in the beginning so when they move out the LL doesn't have to worry about filling a vacancy in the winter and tenant doesn't have to worry about moving in the cold/snow. Spin it so the tenant thinks you are doing them a favor. Also, I agree with @William Kwong. Offer to pay or split the broker fee if they balk. 

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