Tenant Renewal- How to avoid month to month in exchange for fixed

[Marcus MacDonald]

Hello,

I have a tenant renewal coming up an it’s my first one. My lease has a month to month term, which can be terminated with 30-day notice. I am worried about my tenants leaving me in the middle of winter when occupancy rates and move ins are at lows. Can you tell me what your experience has been with this? 

Also, if rental rates sky rocket, do you increase rents to marketable levels or by a certain amount?  I know state legislation affects everyone in a different way, but curious to see what your process is. I am trying to make an equitable situation for me and my tenant. 

I appreciate the help and advice! :) 

Thank you,

Marcus