Lease renewal in October or wait till June

[Mario Morales]

I have a good tenant who has been with me for a year, with the lease set to expire in October. I'm planning to renew the lease starting November 1, 2024. It took about two weeks to find the current tenant back in October. Although the rental increase will be modest, I am considering waiting until April 2025 to send the renewal, which would then start on July 1, 2025. Given the location near UIC, its a good time to get students in and the general population. 

 I'm also contemplating offering a 20-month lease, though I worry it might seem daunting to the tenant.