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Updated over 1 year ago on . Most recent reply

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Johnny Drago
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26
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Property Manager Extending Lease Month to Month without my permission

Johnny Drago
Posted

I had a property manager extend a lease on a unit M-to-M after the lease expired May 31. Unit became available middle of August after they moved out but wasn't ready to be rented out until the end of August. Now it's the first week of September and unit is sitting vacant. My question is wouldn't it have been more prudent to decline the M-to-M option and end the lease so that the property could be marketed during a prime rental month like June? I'm pretty annoyed by it and am venting. 

Most Popular Reply

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,369
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied
Quote from @Johnny Drago:

Maybe. Or maybe you would have sat empty in June?

As a property manager, I have a policy of charing 25% more for a month-to-month lease. This offsets some of the risk created when a Tenant leaves during an inopportune time. I also talk to the owner in advance of offering this to the Tenant to verify the owner is OK with my practice.

It seems you're over-reacting at the moment. I would wait to see how the PM handles the turnover and how quickly they get it rented. Then take some time to express your frustration in a professional manner and come to an understanding, preferably in writing.

  • Nathan Gesner
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