How long should the lease be?

[L. Brown]

Hello BP,

I have a duplex that I house hack. I have a tenant and she is good and she pays on time. Her lease is up for renewal and she would like a 18 month lease. In general I am fine with this, but I am aware that she recently lost her job and has been working at a temp agency. She said she hopes she will get hired permanently but that's not certain. Should I move forward with the long term lease? Are there any clauses I should put in the list to protect myself?

[Kyle J.]

If it were me, I wouldn't do an 18-month lease based on the facts you presented (tenant who no longer has a consistent job/income).  I wouldn't renew the lease at all.  Just do month-to-month.  She can still stay as long as she wants if things continue to go well, but it'll be easier (for both of you) to part ways if they don't.

I have tenants that have been with me 8 years on month-to-month.  Works out great, and honestly it's more advantageous for the landlord since you can raise the rent or change the terms whenever you want (with proper notice).  Longer leases tend to favor the tenant, more than the landlord.