Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 11 years ago,
Renewing a lease agreement question
I have a single family home that has been leased for the past year with good renters. They originally signed a 1 year lease and the lease will soon be expiring. I would like to renew the lease for another year rather than switch to a month to month agreement, but I am not sure what is common practice. I am new to all of this. I don't know what the renters intentions are, but I think they were under the impression it would change to a month to month agreement even though the original docs do not say that.
I know every situation is different, but what is the most common practice? Would it be unreasonable to ask them to sign another 1 year lease? Thanks for any thoughts.