Inherited Tenants....New lease immeadiately?

[Darek J.]

Hello all, 

I'm just about to close on a Triplex.  Would you suggest having the tenants imeadiatly sign a new month to month lease?  Or allow them to continue on their current month to month agreement with the intention of signing a new anual lease come this june?  

I will allow them to stay month to month in order to get their anual lease to line us with June/July.

Let me know what you think.

[Thomas S.]

It depends entirely on whether you have items you want to add or change. If you do then absolutely have them sign the new M2M. You can change it every month if you wish. Adjust it as you go along, when a problem pops up address it with a new lease.

This is only one advantage of how M2M leases allow landlords to control their business.