Investor · Redmond, WA · Member since 2021 · 54 posts · 27 votes
Can I stop renting to tenants after the 1 year lease is up, or do I have to let it convert to a month-to-month until they choose to move out?
-Current lease 9/1/20 - 8/31/21 -Converts to month-to-month after that per the lease agreement -I'm increasing rents 11/1 (can't do it before that because 90 days notice is required.) They told me they plan to move out by 11/1 to avoid the higher rent -But I'd rather get it rented in September at a higher rate -OS Bar says "If your tenant has lived in the dwelling for more than a year, you cannot terminate the tenancy for no cause unless you have a “qualifying landlord reason.”" (I don't per their definition)
I'm not sure if I can find a new renter when the lease ends or if I have to let the tenants continue on the month-to-month lease until they choose to leave.
(I hearby hold harmless any recommendations and realize that nothing said here should be taken as legal advice)
Flipper/Rehabber · Phoenix Arizona · Member since 2020 · 1k+ posts · 686 votes
5y
Are you planning of leaving it a rental? I would tell them in a written letter that rent in that area for a house of same size, beds and baths. Are now going for $1500 a month and I am aware that your now on lease that ends at $1300 a month.
I would like to know if I leave you in there and your willing to re write a new lease for a year. I would like to go only to the $1400 a month rent.
Let me know your thoughts and decisions.
Thanks.
I would do this. A good tenant is not worth making an addition $1200-$2400 a year, If it takes a month to paint, clean and get a new tenant you just lost $1300. Its more you decision then theirs but you are not required to allow them to stay or leave. It becomes a month to month at end of lease. Your month to month can be at $1500.
All of this is example since I have no idea what the rent is or the market in your area!
Flipper/Rehabber · Phoenix Arizona · Member since 2020 · 1k+ posts · 686 votes
5y
Are you planning of leaving it a rental? I would tell them in a written letter that rent in that area for a house of same size, beds and baths. Are now going for $1500 a month and I am aware that your now on lease that ends at $1300 a month.
I would like to know if I leave you in there and your willing to re write a new lease for a year. I would like to go only to the $1400 a month rent.
Let me know your thoughts and decisions.
Thanks.
I would do this. A good tenant is not worth making an addition $1200-$2400 a year, If it takes a month to paint, clean and get a new tenant you just lost $1300. Its more you decision then theirs but you are not required to allow them to stay or leave. It becomes a month to month at end of lease. Your month to month can be at $1500.
All of this is example since I have no idea what the rent is or the market in your area!
Investor · Redmond, WA · Member since 2021 · 54 posts · 27 votes
5y
@David Avery thanks! I will likely wait until they choose to leave, hopefully at the end of their 1 year lease or at the latest 2 months into their month-to-month. OR law says I can only increase from $1700/mo to $1850 (about 9%) if I end the lease. If they leave voluntarily, I can rent it at market, around $2,000 - $2,100. Because the tenant broke up with her boyfriend mid-lease, then found a new roommate, it's been at this price a year and a half, though this lease itself is only a year old. It's gotten to be well under market. But OR doesn't let you end a lease and raise it to market for the next tenant unless the existing tenant leaves on their own.