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Updated almost 9 years ago on . Most recent reply

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25
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Mike Davidson
  • Carrollton, TX
0
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25
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New Lease Question with an existing tenant

Mike Davidson
  • Carrollton, TX
Posted

So I just ended my contract with the property management company I have been with for last 5 years. I am going to manage my own properties now. The tenant at this particular house has decided to stay after the lease ends next month. Since there is no longer a property management company involved, I am obviously preparing a new lease, instead of renewing the existing one. 

The tenant has been here for 4 years. He has never been late on the monthly payments and takes care of my house like his own. We agreed on signing up another 2-year lease with an amount we both agreed on. The new amount is slightly higher than the existing rent. The only issue that has come up is that the tenant is saying that he absolutely wants to do the 2-year lease but he is not going to be able to manage the new payment for the first two months and wants to stick with the old amount for the those two months only. He says that he is getting a raise at work and will able to pay extra in the 3rd and 4th month to cover with differences. I completely trust him. Now my question is, should I prepare the lease in this way indicating the variable amounts for the first 4 months or should I just indicate the new rent amount on the lease and let him pay the old amount for the first 2 months based on this mutual understanding? Being a newbie, I want to keep the lease document simple, especially since I had already prepared it. Just came to know about this 2-month thing. Thanks!

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