Tenant Wants to Change 1 Year Term Lease to Month to Month

[Alisa Clairet]

My tenants are currently on a one year fixed term lease. We are located in LA, California. He and his wife earn upwards of $300,000. They have just had their first child and would like to buy a home in LA. Upon sending them the new lease for the upcoming year, they requested that I modify the term of the lease to a b a 6 month term lease that would automatically turn into a month to month so they would have the flexibility they want to purchase a home and move out without paying any penalty for breaking the lease early. I like my tenant but this seems like I would be giving up the security of having a fixed 1 year lease. Is this a common thing that landlords do for their tenants or am I too new at this business? I'm not sure how to respond to them. Any advice would be greatly appreciated.