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