One of the tenants is new while the other just renewed for her second year.

CL you will have to renew or repost everyday most likely.

(I am also now at the end of the lease and they are not interested in renewing the lease.)

If so, you should change the leases soon as they come up for renewal to have the tenants pay for that.Good luck!

Note too that any modification that would be done, the note will have the due on sale clause, so how you draft an option will need to be compliant in the lender's eyes, short term but renewable to make it work.

In some places residential lease can not exceed one year but can have automatic renewals, banks also go with that in mind as well.What you can do is lease annually to the NP with an automatic renewal.

She basically said not really - we'd have to take them to court and that opens up a whole new can of worms that I'm not comfortable with.My current plan is to simply not renew their leases, and communicate to the clean tenant as such - and then hope he's willing to wait it out.I'm also thinking about sending the exterminator back in another time, at a cost of $450 for all 9 units.

You do not need to adjust your loan, you need to make sure when you renew rents you capture what you can.

Good opportunity; Might fine tune this, looks like it would be 4 years of rent if that's the case.Why not do an annual lease with an automatic renewal that makes it likely that the next year will kick in and continue unless you both agree to terminate (but he could terminate following certain steps).You sign a note, you write him a monthly check, he endorses it back to you for rents or exchange checks.

Needless to say, when the renewal notice came I didn't think twice.