Flexible Lease Terms

[Nick Virovec]

For any vacancy at this time of year, do you find it beneficial to try and get creative with shorter lease terms when prospective tenant traffic starts to slow? Or do you think being creative with lease terms in the Cleveland market is a good/bad idea overall? 

[Bob Stevens]

Quote from @Nick Virovec:

Quote from @Bob Stevens:

Quote from @Nick Virovec:

For any vacancy at this time of year, do you find it beneficial to try and get creative with shorter lease terms when prospective tenant traffic starts to slow? Or do you think being creative with lease terms in the Cleveland market is a good/bad idea overall? 

 If you are having an issue with getting tenants, you are doing something wrong. Tenants are the easy part. Who is your PM? I get 20 calls a week, 

Hey @Bob Stevens, appreciate the feedback. I don't think the question was so much about doing things right or wrong, but moreso wanting to breed any kind of discussion as it pertains to flex lease terms. Relative to the summer months, the amount of renters looking to move this time of year seems to trail off a bit.  If you are delivering rehabbed or turned product this time of year, do landlords out there think about these kinds of things or do they just try to lease at a conventional 12 mo rate?

 Never, again tenants are the easy part. I do 90% with various govt programs, higher rent and secure.  BTW, the busiest month to get tenants is Aprilish,