Month to Month or 1 year rent contract

[George Aboukhodr]

Hi everyone, i am in the process of listing my first rental single family property. Would it be better to rent it month to month or 1 year contract during the pandemic?What is the Pros and Cons? Thank you.

[Joel Calkins]

Hey George, Great question!

So month to month will be a more unpredictable contract for the landlord and it could increase the chances of vacancy. There could be potential to charge a higher rate for this though.

A 12 month lease is nice because it locks the tenant in and gives you a little more security. With that said you need to do plenty of tenant screening, finding a good tenant is just as important as finding the right property.