Commercial Lending and leases

[Salvatore Lentini]

I'm finishing up a rehab on a 14 unit apartment building.  I recently added a bedroom to an efficiency (that had a tenant living in it) by taking space from a storage area and punching through with a door once it was finished.  Monthly rent increase for that unit is $200.  Tenant is thrilled with the upgrade.  He has been month to month since May.  I am going to refi in the next 2 months to pay back my private lenders.  From a commercial lending perspective should I have him sign a 1 year lease or keep him month to month?  I don't care either way as I think he intends on staying for a while but even if he left, the unit is very nice and he's very very neat so it would rent for the same price in a minute.  Therefore I'm not concerned about him staying or going but I wonder how traditional commercial lenders would look upon it... or do they even care?