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Updated over 9 years ago on . Most recent reply

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Victor Olowu
  • Investor
  • Austin, TX
17
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69
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Month to Month Lease Legality

Victor Olowu
  • Investor
  • Austin, TX
Posted

My tenant has been in the unit for 2 years now, but during this past year, she lost her job and I believe got another one.  She hasn't missed any payments, but to be on the safe side, I am having her re-qualify, i.e. income/work verification, to make sure her new income still meets my cutoff ratio.  Also, instead of renewing for a 3rd full year lease, I want to put her on a month-to-month lease which should help if she has issues making the rent.  

Summer is ending though, so I want to put a freeze in the lease between November and February where she can't move out, and I would not change the rent etc.  Should I just add an addendum to a standard month-to-month lease (which I don't even have yet because I don't usually do month-to-month leasing)? Is there a problem putting a freeze in your lease terms?

Most Popular Reply

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Justin R.
  • Developer
  • San Diego, CA
1,158
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Justin R.
  • Developer
  • San Diego, CA
Replied
That sounds like a lot of complication for a tenant who's been there for 2 years and given you no trouble. I don't think I would do it. That said, new tenants with us sign a 12 month lease, which converts to either 3 or 4 month lease periods on expiration. The point for me is to prevent move outs during certain months. No problems with that.

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