9 Month Lease With Good Prospect vs. Longer Term

[Art Maydan]

I’m renting out the second half of the duplex I just bought to house hack. I have a great prospect, a business guy who’s moving to Chicago, but he only wants it for 9 months. Do you think it’s worth it to accept him and find a new tenant in 9 months or should I keep looking for a longer term tenant?

The house was a gut rehab and is unfurnished with brand new everything, stainless steel appliances, granite countertops, etc. So I’m in a prime position to lock in a good tenant. But I am asking for rent on the upper end in my area and that’s dissuaded all of the people inquiring so far. It’s been listed for 2 days.

[Yvette M.]

M2M is best.  However, if you do a 9 month lease that will end in the summer months re-renting may be easier.