Renewing Tenants Lease

[Rosalie DiPietro]

I normally do a lease for the first year of the tenants occupancy.  Thereafter, it's month-to-month.  I'm reconsidering this method for several of my properties.  

If I haven't renewed a lease for a tenant beyond the first year, and they are now there 2+ years, would it be out of the ordinary to issue a new one now?  Why I am thinking about this now?  More so to avoid a tenant leaving in the late Fall/Winter months, when it's more difficult to find a tenant.

Actually, here in the NYC area, a lease has almost become a worthless document.  If a tenant wants to break a lease, the landlord has to prove that a new tenant has been diligently pursued at the same or higher rent before legal action can be taken against the existing tenant.  Also, new legislation is on the table which would make leases automatically renewable for the tenant.  Not sure if I just answered my own question.  However, I'd like to think that a good tenant who signs a lease will abide by it!

Interested in feedback!

[Mohammed Rahman]

Hey @Rosalie DiPietro - I'm an investor and realtor in NYC, I hear your pain about tenant protections. Since the 2019 Tenant Protection Act was passed, it has been overwhelmingly in favor of one side of the housing equation. 

I recommend always having a lease in place with future and existing tenants. Putting things in writing also sets the tone for them that you're a professional landlord. 

Agreed, even a lease won't cure your headache if you ever run into issues with the tenants.