Whats the point of a year lease? - Landlord Forum thread

Whats the point of a year lease? by Lola on July 24, 2012 @21:20

I find they always protect the tenant. If I have a tenat who wants out, I always let them out and I have no problem renting my units. What am I missing? I also have four units that do not require that a rent for,a min. Number of months. Decided to do month to month from now on while screening for those who,intend to stay longer as I have no desire to sell units. Am I missing something? M2m seems the way to go.
Thanks for all opinions..

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Re: Whats the point of a year lease? by Anonymous on July 24, 2012 @21:32	[ Reply ]

I agree, leases are designed to enable tenants to keep landlords out of their Meth labs for a year and to give their illegal pets time to destroy the carpet. :)

Re: Whats the point of a year lease? by Douglas (KS) on July 24, 2012 @22:26	[ Reply ]

numerous reasons, such as directing a tenant lease to expire at a certain time of year when more conducive to get tenants, binding them so you have some recourse in case they skip out (I have a 2 months broken lease payment clause in my lease). Plus, there is a mental thing that keeps people around when they sign a 1 year lease instead of monthly. More turnover means more wear and tear of moving furniture in and out, paint, more bed bugs/fleas, pet issues, etc. Also, if interested in financing or other things, banks likely want to see annual leases. Same for potential buyers. You would likely find that monthly is not as easy as you think. If you have a professional or broke tenant, having a monthly does not get them out faster always, if they hang on. It is nice you can get tenants, but it is not always like that when screening thoroughly.