Month-to-Month Tenant Request

[Todd Krzeminski]

One of my tenants is asking if they can go month-to-month at the end of their lease, until they close on the house they're buying. Should I add a premium to the rent? How much? It's currently $950. How much notice should I require of them to notify me whether they are continuing the following month?

[Matt Clark]

Todd Krzeminski If they have been good tenants who are easy to work with, I charge 10% over the renewal rate, and allow them to vacate with a full calendar month notice.