Any pitfalls with a 5 year lease?

[Roma Montifar]

We have tenants that are coming up to finishing their 2nd year with us. So far we’ve had a great experience with them, and they love the house, neighborhood and service we provide.

We’re replacing the shower/tub combo in the master bath to a walk-in to make it easier for them to get in and out. After letting them know that we’ve decided to give them the walk-in shower that they asked us for, they brought up committing to a 5-year lease.

What are some pitfalls to keep in mind with long lease agreements?

So far on my list:

1. We cannot raise the rent. (We likely wouldn’t raise rent anyway since we’re cash-flowing and would like to hold onto these guys for as long as possible)