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Updated 1 day ago on . Most recent reply
Tenant doesn't want to renew lease but wants to stay for another two months
I have a tenant who has been a decent tenant and has not given me any major issues. His current lease is up at the end of June and I gave him the new lease 60 days ahead of this. He recently changed his mind and wants to move away but wants to do so at the end of summer, 2 months after his lease ends. Would it make sense to let him stay for an extra 2 months and then list up the property for rent at the end of September or October? I'm not sure what documentation to provide either, would a notice to quit be sufficient for this?
Most Popular Reply
This is a sticky situation! Given the risk you are taking for allowing him to stay two more months and having to re-lease out of the "peak" leasing season, I'd charge him an increased rate for those additional two months. Just enough to where you feel well compensated for the risk you're taking and he feels that he's still getting a decent deal for an additional two months of staying. However, if he has been renting from you for a long time and you don't see any risk in the re-leasing period, I'd opt to just let him stay for the current rate.