Long Term Leases During COVID-19

[Chris Ganz]

Good morning,

I recently acquired a property with pre existing tenants with leases that are on a month to month basis.  I was wanting to lock them into longer term leases of at least a year, but was wondering if that is currently a good idea now due to the virus situation depending if one of the tenants comes into financial hardship etc.  They seem to be great tenants so far, and have no expressed any concerns of not being able to make payments.  Any tips or recommendations would be helpful.