what options do you guys offer at lease end?
do you go month to month same price?
month to month at higher price?
only allow to re-sign lease or move out?
the one disadvantage of month to month is if the tenant decides to move out in the winter slow months.
Most Popular Reply
Nathan Gesner
Property Manager
Agent
Pro Member
- Real Estate Broker
- Cody, WY
- 41,509
- Votes |
- 28,242
- Posts
- Renew for an additional year
- continue month-to-month with a 10 - 20% increase (market and season dependent)
- Move out
When they renew, I typically don't hit them with an increase the first time. After two years, I require some increase even if it's only 2%.
If it is winter, I won't allow M2M without an increased rent because the risk of vacancy is much higher. In the spring/summer I will allow M2M for a few months, usually without any increase, and then lock them in or move them out during the peak season when I can find a new renter easily.
- Nathan Gesner
The DIY Landlord Book
248 Reviews
4.7 stars