All Forum Posts by: Andrew Hardin

Thanks everyone. Clearly, there's a lot to consider.  It seems that the general consensus is to avoid a long term lease.  I've instructed my property manager to sign them for a 1 year lease.  We'll increase rents by 3% per year as originally planned.  All of your advice has been appreciated.  Thank you.

Thanks Kyle J.  If I increased the rent each year at my standard 3%, what would be the downfall of signing a 5 year lease?  I was looking at a 5 year lease as stability.  One disadvantage I see is that it may limit my ability to sell the property to an owner occupant if I have a tenant in place so I can understand that aspect, if I am thinking about this correctly.

My tenant is requesting a 5 year lease. I was originally going to increase rent by 3% per year.  Because they want to sign for 5 years, which will reduce vacancy costs, I should probably reduce the annual rent increases but I have no rule of thumb to go by.  Please share some wisdom. Thanks.