Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago, 04/17/2022

User Stats

11
Posts
2
Votes
Nikolas K.
  • Seattle, Wa
2
Votes |
11
Posts

Options for ending / inducing end of month to month lease

Nikolas K.
  • Seattle, Wa
Posted

Hi All,

We have tenants whose lease has transformed into a month to month lease after initially being a 6-month lease. We have a verbal agreement that they will go month to month while home shopping but convert back into a longer term lease in a few months. Of course this is well intentioned but a little ambiguous with our interests being on total opposite ends of the spectrum. 

I understand that in Seattle the landlord cannot terminate a month to month lease unless any of some 18 conditions are met. So I dont think that is an option... However we believe that we may submit new lease agreement to them, with 60 days notice, increasing the month-to-month rent and they will then have 30 days to decide.

- Does this sound accurate?

- Are there any gotchas / fine points to this plan?

- Can we submit a new lease agreement with different rates for long-term leasing and month-to-month leasing? I am thinking that a more expensive month-to-month rent would incentivize them to consider signing a longer-term lease while they home shop or what not. At the moment they are behaving rationally and opting to stay month-to-month -- I do not want to raise rents, they have been great, I just also do not want to be left holding the bag in the fall and summer since it is historically harder to rent the unit out then.

Thank you!

N

Loading replies...