Exit strategy- retain as rental. 6-8 months. 

It is also not uncommon to have a retainer (5-10%) for the 'unknowns' in a construction project set aside in the contract.

Common fees will include a set-up fee, leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

If you have high turnover rates or struggle to attract and retain quality tenants, it can impact your rental income and profitability.

@Shawn BurnsYearly lease PROs: 'Seems' more stable HOA's/COA's may require themMakes lenders happy with a warm and fuzzySeem to 'lock' the uninformed Tenant in for the duration; however they certainly do not - the Tenant can break at anytime; the Landlord may not break at anytime If the lease is broken you can retain the SD - however only the $ related to the amount of time until you find a new Tenant may be retained in addition to of course repairs Yearly lease CONs: Can be broken at ANY time by the Tenant- your only realistic recourse is to keep the SDBinds the property owner much more than it does the TenantA bit harder to evict due to non-payment Creates a 'maturity' event which prompts the Tenant to 'shop' around before renewing their Lease with youMonthly lease PROs:Gives the Landlord & Tenant the most flexibility - important for Landlords that may want to Sell or move-in Put's the Tenant on 'notice' throughout the duration, in that you can choose not to renew next month for no reason at allCan be set up to 'auto-renew' until cancelled by either partyThere is no 'maturity' event; essentially set it and forget it - there is no event which prompts the Tenant to shop around for a better unit or rent rateGives Landlords and Buyers of investment property much more flexibility when it comes time to sell for both the Seller and BuyerA bit easier to evictMonthly lease CONs:Tenant may choose may move out at anytime - this is the same with yearly - but with monthly it is implied, front and centerIf proper move-out notice is given - typically 30 days - you do not get to retain any portion of SD for rent related toMay not be allowed as an initial lease by some HOAs/COAsThere will be many arguments for either but from my experience yearly leases 'bind' the Landlord much more than they do the Tenant.

Or a volume retainer. 

We all know that there's several PMS that offer to automate your reviews and retain the capability to rotate canned reviews and dole them out to past guests to fool the platforms into thinking such reviews are real and organic.Automating your reviews also systematically destroys the fabric of trusted reviews that's the foundation for every of STR platform. 

Common fees will include a set-up fee, leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

I like this best because you, as the investor, retain the equity created during that process.Then there's the true turnkey provider that offers a fully renovated home with a paying tenanted already placed.

However, our tenants plan to vacate this March and have expressed interest in purchasing the home.I'm contemplating whether it's more advantageous to sell or retain this asset.