Updated about 7 years ago on . Most recent reply
College Student Rental Lease Renewals
I signed my first student rental lease in May 31 2018 , immediately after i purchased the property. The lease is up this May 31 2019. My hope is to resign with the existing students, all sophomores. How and when should I approach the renewal, I want to lock in the new lease (formal agreement, not just a verbal they can then change there mind at the 19th hour) as soon as possible, and do i execute a new lease with a new first month rent and security deposit. Any advise is appreciated.
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In my market, the lease window is in the Oct-Nov time frame for the following School year. I already have a signed lease for the May 2019 through 2020 period. Sounds like you have that figured out. I bought a property after the lease window, luckily I was able to AirBnB it, and cover most of my mortgage.
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