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Updated over 8 years ago on . Most recent reply
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Kaizen or Crestcore Memphis realtors
Any recommendations on good Memphis Realtors working in a brokerage that does very good property management?
Most Popular Reply
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Let me make sure you CLEARLY understand...... Just because a tenant signs a month to month, 1 year lease, 2 year lease, 3,4,5,6,7 year lease that does NOT mean they will stay and rent the property through out the lease. They can and will break those lease regardless of the amount of years you add to it.
The 2 year lease idea is a Great marketing tool for turnkey/PM companies.... Makes the investors to feel more at ease I got a 2 year lease signed YEAAAHHH!!! My property won't go vacant for 2 yrs and that will make my vacancy rate go down!!!! As Lee Corso would say "Not so FAST my friend" you can still experience vacancy and tenants can and will move regardless of what kind of lease they signed...1,2,3,4,5 year lease...
And it will cost you more money to try to find where they are sue them for breaking the lease trying to garnish them if you can find where there jobs or ne jobs are located and don't let them file Bank Ruptcy on you that's a nightmare, than just re-renting the location to another tenant and moving on.
Sorry to be the bearer of bad news... Regardless if you were in Memphis, B-Ham, Atlanta, Chicago, or where ever...