Mid month move in

[Michael Campione]

Consensus question.

I normally prefer to start the lease on the first. (note's is due the first). My tenant wants to move in the 14th. Do many landlords sign a mid month lease or is it better to collect a prorated 15 days + First Month + Security and start the lease on the 1st of the following month?

Thanks in advance.

[Frank Adams]

Make darn sure you collect a FULL MONTH'S RENT for the first month. Then they pay the half month rent 2-4 weeks later. If they move in May 15 collect full then, between June 1 and June 15th collect 1/2 month rent, then July 1st full month.

BTW, I always had the lease END on the 30th though regardless of start date. In fact when I had a vacancy occur during the "off-season" I had the lease run until June or July 30th of the following year.

Also whenever I had someone who wanted to start on the 15th I'd tell them that they were "about tied" as far as being a good prospect with someone else that wanted to start on the FIRST. But if they would start on the 7th or 8th I would go with them. You don't want to be "eating" too many two week vacancies.

all cash