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Updated almost 7 years ago,

User Stats

137
Posts
51
Votes
David K.
  • Investor
  • Attleboro, MA
51
Votes |
137
Posts

Month to month v. lease and rent raise

David K.
  • Investor
  • Attleboro, MA
Posted

After meeting with my attorney the other day he suggested in new rental agreements to do a month to month basis for some very good reasons.  In the state I invest, its much easier to get rid of a problem tenant.  He also mentioned why hold someone in a home they don't want to be in, could be a problem, let em go and move on.  All new rental agreements are done this way now.

I have a good tenant who always pays whose 1 year lease is coming due.  I sent her the new month to month agreement.  She contacted me and asked for another year lease as she feels more comfortable that way.  I explained to her I wasn't planning on raising the rent every month etc., but still insists on a new lease instead.  I included a $25 month increase, (I'm still low for the market, but she's lived here for years).

Wondering if I should agree to do another 1 year, lease but a slightly higher price or just give her what she wants since she's been good for years.  Thoughts?

I have many units of property and tenant turnovers are my biggest cost, so I try and keep vacancy as low as possible.  Please only respond if you have multiple units or property, thanks guys!

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