Month to month? Or 1 year lease

[Allan Pilapil]

I just purchased my first property and will be looking for tenants to move in. Due to the economic climate and high percentage of people not paying rent, would it be smart to rent by the month or 1 year lease? My concern is having a tenant that refuses to pay rent and is tied into a 1 year lease vs having a month to month contract where I can have them leave the following month if we can’t find common ground. Please let me know your thoughts on this! Thank you!