Leasing to college students

[Scott Clymer]

I own a home in Lafayette Louisiana that my college-attending son lives in. We also rent three of the rooms out to other college students. They currently are all under 12-month room leases that started on their lease signing date in August of 2015. It is lease renewal time now and seeking some advice:

1. Should the lease renewal end date be adjusted to the last day of August or just stick with the mid-month date of signing?
2. Is it appropriate to adjust the lease dates closer to school calendar dates? Presumably, they will graduate at some point and if say it's at the end of the Spring semester, they could be wanting to leave in May, but have a lease that doesn't end until late August. I am considering adding a clause such as "upon formal graduation from xxx University, this lease may be terminated early at the end of the month in which you graduate".  Another option I suppose would be switching to month-to-month but do not prefer this option.

[Robert Leonard]

Whatever route you take @Scott Clymer, I would think about the fact that Fall college semesters start around mid-August.  Having your lease end at the end of August will make your place available AFTER most student's will have a place to stay and classes start.  

The main drawback to the graduation clause idea is, what do you do when one graduates at the end of the Fall semester?  December is a bad time to have a vacancy.  It's not impossible to fill a vacancy in December, but there will be a drastically smaller pool of applicants.