Inherited tenant not willing to sign a new lease

[Carol Kohn]

I have an inherited tenant whose lease expired 2 weeks before I closed on property. The previous owners indicated that this is a great tenant who takes care of the property and always pays rent on time. The problem is, the tenant does not want to sign a new lease and wants to only do month to month (he works in the oil industry and is not sure how secure his job will be in the future). I have told him that I can offer a 6 month lease, or if he is willing to sign a 1 year lease, I will add a 60 day break lease option. I am worried that the tenant may move out and I would hate to lose a good tenant... especially since this is a duplex in a family oriented area where tenants only tend to move during the summer. Should I consider a month to month lease? Am I being too strict?

This is my very first investment property and I am also new to land lording so any advice on this is appreciated!