Presenting a lease renewal

[Mr Good]

Hi. This forum provided some excellent advice when I got started. Here I am almost a year later, made it this far :)

I purchased a large home with view, big lot, near transit center, put down $105k of my own money to purchase, plus another $30k for improvements. One tenant upstairs, one tenant in basement, they have totally separate laundry, kitchen, etc. Nice place. I get $2050 rent total, loan/tax/ins payment is about $1650/mo. Probably not the best return but I like having it, and I get a small income.

Have been fortunate thus far, tenants are very good. No hassles, and paying each month.

OK my question. The couple upstairs is very clean, keeps the house better than I keep my own house. Ideal tenant. They pay $1200. I have no intention of raising the rent. In April their 12 month lease will expire. I would like to ask him to sign another 12 month lease, rather than carry on month-to-month. Is renewing a 12 month lease with another 12 month lease normal?

Thanks for your advice.