I have a tenant whose lease is ending in about 2 months, and a month ago I gave him 30 days to let me know if he plans on renewing (giving me 60 days to advertise). Today, the last day before I required the response, he told me he is looking for a new job and to buy a house near that job. Because he doesn't know where the job will be yet, he doesn't know where to look for the house yet. Essentially, he knows he will want to move out a few months after the beginning of the new term, but doesn't know when yet because of these unknowns.
My first thought was to have him sign a month to month agreement beginning at the end of the current lease, requiring a 90 day notice if he plans to break it.
My first question is: Is that type of agreement enforceable, or does the NJ state law that says 30 days is required to break a MTM lease trump that contract?
Second: Should I just not renew with him at all? This is my first turnover so maybe I'm reluctant to let a good tenant go, but maybe because of that I'm not thinking about it logically. I anticipated a clean yes or no to renewal, not this.
The MTM option also runs the risk of a turnover during the winter, which I hear is harder to fill.