Tenants month to month

[Byron Scott]

I am looking to buy a duplex. The numbers are good if I can buy it at the right price. I won't overpay. However, the property currently has tenents that are month to month. Is this normal? Any suggestions on what I should do?

[Bjorn Ahlblad]

Byron the lease duration; year, MTM etc seems very influenced by location. Here in Wa tenants are MTM-just how it is. In Ca our tenants were always on yearly leases. The length of the lease has little to do with how long a tenant stays. Financial institutions like to see annual leases typically. As a LL in Wa I won’t offer an annual lease under any circumstances. Find out what is the norm in your state and do what the fashion in your area dictates.