Month to Month or 1 year lease
I've always done 12 month or longer leases, I've even offered discounted rent for signing a longer lease term.
But lately I've been hearing a lot of talk about month to month leases on Bigger Pockets and at my REIA.
If you think about it a long lease really does nothing for the landlord. If a tenant wants to leave, they are going to.
If I want them to leave, I will have a hard time getting them out if they have a lease.
Maybe it's time to make a change?
What do you do? What are your reasons?
Thanks,
-SR
Most Popular Reply
#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
- 14,132
- Votes |
- 22,059
- Posts
#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
I've switched to month-to-month for exactly the reasons you say. A long term lease is much more binding on a landlord than on a tenant. If there's something I don't like, I can terminate the lease. Conversely, if the tenant is their, I know its by my choice, not by a contract I can't easily escape.