New Landlord

[Faith Russell]

This question may be addressed elsewhere in this forum and I just can't find it.  My first tenant's lease is due to expire in 60 days.  He's been a good tenant and I'm hoping he renews.  What's the process - and paperwork - for having this discussion?  Thank you in advance for any advice.

[Laura Fahey]

You should give/send them a letter more then 30 days before their current lease expires. This letter is letting them know that you would like to renew their lease and what terms you are offering. For example you would like to offer them $? For for their new rent amount and the # of months you would like them to sign the new lease for. This way they can lock in this rate for the new lease. If they agree you should have them sign a new lease agreement with the new dates and rent amount.
You can also put in the letter a higher rent amount if they choose to continue month to month. This helps to detour people for staying month to month. Just let me know if you have any questions about this process or anything else property management related. I hope this helps.