Month-to-Month Tenant - OK? or Push to Renew?

[Tony Castronovo]

I have a tenant who has been with me for a couple of years.  Her lease recently expired and she asked to go month-to-month.  The month-to-month rent is $1400 and her 12-mo lease is $1365/mo. 

Is there a point where you would push for a renewal or would you just take the extra cash flow and let it ride? My only concern with M2M is if she decides to terminate during the winter months and then it becomes harder for me to rent (may have to lower rent or let it sit longer).  With summer upon us and knowing that this is the busy season I am wondering if I should try to lock her into another 12-month lease before school starts back up in the fall.  Thoughts?

[Deanna McCormick]

I've managed and now own my parents properties so about 60 of rental business in the family, my mother worked for a district Judge,,, his advice to her early on in their rental business was do month to month terms,, so for 60 yrs that's what's it's been,,, longest tenant was 16 years,, average is 2 1/2 years if single and young,, 6-7 years if single and over 45.. it seems,, I only rent single occupancy,, and it seems that's been the about average,, I write up rental agreement say I will keep rent rate the same for 12 month,, if they move out before 6 months they owe a redecorating fee of $250.00  It's worked for us but we had smaller buildings.. 5plex, 6plex, 4 plex.. all 1brs..