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Updated over 3 years ago,
Tenant Requesting Shorter Lease
I had a tenant sign a year lease, and I recently reached out to ask if they intended to stay another year, to which they responded by asking if it would be possible to shorter the lease length to 6 months. Previously they had asked if I was interested in selling the home, so I believe they are looking to purchase a home and don't want to be locked in to a year lease. Of course, they could end up not buying a home and signing again.
A couple of additional notes on the topic:
- The property currently rents for $2k/month
- I intend to raise the rent 2-3% if a year lease is signed
- If I were to agree to a 6-month lease, they would move out mid-January (not ideal)
I were to agree to the 6-month lease, what is an appropriate monthly increase for the shortened lease and unfortunate timing? Curious to hear thoughts on the situation as a whole.