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Updated over 7 years ago,
Month-to-Month Tenant - OK? or Push to Renew?
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?