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Updated over 5 years ago,
Tenant lease renewal
Hi all,
I am looking for some advice regarding renewing a tenant's lease that is set to expire soon. I reached out to them to renew and offered a 1 year lease at the same rent they are paying now or a month-to-month lease at a higher rent (4% increase). They had expressed that they may be buying a house in the next year so I wanted to offer a choice. However, they said that they wanted to sign a shorter lease period instead (9-10 months with the option of going mo to mo after). I told them no as I just told another tenant at a another property no regarding a shorter lease and offered the same 12 month or month-to-month option, and I want to be consistent and fair. The tenant is now not responding for the last 2 weeks, and I'm not sure how to proceed. Any advice? Thank you!