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Updated over 2 years ago on . Most recent reply
How much extra should you charge for a month to month lease?
I have a mobile home that I'm renovating. Due to a large industrial project in the area, there is a need for short term housing for construction workers. I'm trying to decide whether I want to do a month to month furnished with all bills paid vs a typical long term lease. How much extra should I charge. Below are the details.
Regular long term lease $850, electricity $250, water $50, internet $75. How much extra should I add for the increased turnover and hassle of a month to month.
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#5 Multi-Family and Apartment Investing Contributor
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- Shelton, WA
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#5 Multi-Family and Apartment Investing Contributor
- Investor
- Shelton, WA
@Craig Janet most of my tenants are MTM. My experience is the length of the lease has no bearing on how long a tenant stays.
If you intend to furnish and pay all utilities you will want to charge a whole lot more. Probably 1050/mo plus all the utilities. So 1050+375=1425 total. I'd break it out as rent + utilities, or it will sound like too much.