Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago on . Most recent reply

User Stats

19
Posts
2
Votes
Jeff N.
  • Loudoun County, VA
2
Votes |
19
Posts

Tenant asking to extend their lease until end of OCT. Thoughts?

Jeff N.
  • Loudoun County, VA
Posted

Title pretty much says it all.

The rental is near Ft Meade in Maryland.   My tenants are currently military.   the lease is ending the end of April.  The Tenants just reached out letting me know they would like to extend the lease until the end of October.     When they leave, I will most likely have new carpets, and flooring installed, as with the basics touched up.   So there will be 1-2 weeks of down time before trying to fill the home again.   That would put us at mid November.

I know some people are really big with having spring time leases,  however fall rentals seem to have less inventory which could allow for a bigger demand on my unit.   My tenants also said, with military, they feel I'll have a big pool of people due to the base regardless of time.

What is everyone's thoughts on when the best and worst time to start a lease?    Does it being near a base really help?  

Most Popular Reply

User Stats

958
Posts
1,137
Votes
Tchaka Owen
  • Real Estate Agent
  • Merritt Island, FL
1,137
Votes |
958
Posts
Tchaka Owen
  • Real Estate Agent
  • Merritt Island, FL
Replied

@Jeff N. - I wouldn't lose sleep over this. The only bad time I can think of is dead of winter because no one really wants to move then, but even then people move. I don't see April in Ft. Meade being any better or worse than early November. What I'd focus on is advertising the place by late September to hopefully get a potential tenant lined up. Let them know you need 1-2 weeks for updates. And yes, I'd extend until the end of October!

Loading replies...