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Updated almost 9 years ago,

User Stats

11
Posts
1
Votes
Claire McGuire
  • Investor
  • Philadelphia, PA
1
Votes |
11
Posts

Converting from month-to-month to 12-month lease

Claire McGuire
  • Investor
  • Philadelphia, PA
Posted

I have a SFR that is currently rented on a month-to-month lease. Originally it was a 12mo lease, and reverted to month-to-month after the first year. My tenants have been there for nearly 2 years, but they've told me they want to move out soon to be closer to a sick relative. This is my first rental (bought 2 years ago) and I regretted the structure of the lease almost immediately because I realized how seasonal the rental market is in my area. If they don't move out in the summer, the place may sit vacant until the following spring.

Until now, I haven't wanted to ask them to sign a new 1-year lease because they're good tenants and I haven't wanted to do anything that would push them to move out. But since they're planning to move out anyway, I'd like to force the issue a little so the timing will be beneficial to me.

Can I give them 60 days written notice, telling them they need to either be out June 1 or sign a new 1-year lease? I was thinking of telling them verbally first (before April 1) and then putting it in writing on April 1.

Does anybody have advice about how to handle this? I know I have a lot to learn, and thanks for any help!

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