First Tenant transition

[Carrie Westover]

Hello seasoned landlords:

I am heading into my first tenant transition on my first rental property. The current tenant is in the process of buying a home and expects to close the end of february. Our contract is on a month to month extended from a 1 year lease. He has requested a pro-rated rent for half of March so he has time to move, get carpets cleaned and wash walls, etc. 

i don't have a new tenant yet. i am starting that process now. but i am concerned that i wont get someone in the middle of the month.

What is your experience show? 

Thank you

[Susan M.]

From experience, closing dates move, things happen.  The odds of him actually closing on the date he thinks he's closing are low.  Don't cut things that close.  What happens if you line up a tenant, then his closing date gets pushed back?  Make him pay until the end of March and sell it to him as security in case something goes wrong with his closing. At least he'll still have a place to live.