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Updated over 8 years ago, 05/01/2016

User Stats

7
Posts
0
Votes
Nikoma Thompson
  • Investor
  • Durham, NC
0
Votes |
7
Posts

Less than one year lease?

Nikoma Thompson
  • Investor
  • Durham, NC
Posted

Hi all, I own several properties in the Duke U rental market. I typically do my leases for 12 months starting August 1, because it matches the academic calendar and the market cycle. However, I have one property that already had a lease on it when I purchased it that ended at the end of May. I was able to short lease for the summer and then start the next lease in August. But the new tenants want to end the lease at the end of May again. I really don't like all the hassle with summer leasing and want to do 12 months, but I have qualified and willing tenants lined up and don't want to lose them. Should I offer the 10 month lease but at a slightly higher price to deal with the inconvenience? Or should I make them sign for 12 months and deal with subleasing themselves?

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