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Updated over 1 year ago on . Most recent reply
![Agustin Conti's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2198880/1626383027-avatar-agustinc15.jpg?twic=v1/output=image/cover=128x128&v=2)
First renewal, Tenant ask for multi-year lease
Hi, I am ready to renew the lease with a good tenant, He accepted the price increase proposed for the new lease starting in october (very reasonable) but has asked about an extended lease. I don't have a reason to be worried about this tenant and his family as they seem to be the perfect tenants. I want to know what precautions or tips I should consider and how to do a lease myself (and a multi-year lease!). I used a realtor (very expensive!) to get the tenant in, but for the renewal she said I could do it on my own and save the money. I kind of agree with that as the screening is already done and I have a good tenant. All I have to do is duplicate the contract right? To recap, my questions are:
How to renew a lease with a tenant without a realtor.
What are the advantages of doing a multi-year lease (2 years, I would not do more), what provisions can be included, and how to do it myself.
the property is located in South Florida.
Thanks!
Agustin
How to renew a lease with a tenant without a realtor.
What are the advantages of doing a multi-year lease (2 years, I would not do more), what provisions can be included, and how to do it myself.
the property is located in South Florida.
Thanks!
Agustin
Most Popular Reply
![Ray Hage's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1838690/1621516008-avatar-rayh104.jpg?twic=v1/output=image/crop=600x600@0x56/cover=128x128&v=2)
@Ricardo R. Yes, your points are exactly right. Unfortunately, there is no real "security" in 1 month, 1 year, 2 year lease, etc. The best security is choosing excellent tenants that ideally want to stay for long term (meaning several years). I have had tenants for 4+ years on M2M. They can leave anytime but don't. On a M2M, it's much easier to get out a bad tenant. I think the OP feels that getting a M2M tenant will cause turnover every few months, which is rarely the case.