Month to month vs year lease Your thoughts? - Landlord Forum thread 317404

Month to month vs year lease Your thoughts? by Anonymous on April 13, 2014 @08:23

I searched the forum for this but got an "internal error" message.
I used to do one year leases. Great for keeping people but a bummer when trying to get rid of them. Now I do month to month and they feel they can move out whenever they want… and they can with 30 days notice. I just turned over two units (job transfers) who were in for 7 and 9 months. It's a lot of work to turn over an apartment… I do it all myself.
What are your thoughts on M2M v. Year?

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Re: Month to month vs year lease Your thoughts? by Katiekate (New York) on April 13, 2014 @08:58	[ Reply ]

I never want to be empty in the winter. My units are rented to college kids, that opportunity only happens between the school years with the move in happening in August. I screen very carefully. I have first, last, and deposit on the units. The parents all sign the lease. I have myself covered every which way I can. If I allowed a month-to-month I fear the first big argument between the kids would leave me with an empty unit. The first year the kids are in is always rough with at least one moving out. Once they get over that, they usually stay 3-5 years till graduation.

Re: Month to month vs year lease Your thoughts? by jannie (IL) on April 13, 2014 @09:51	[ Reply ]

I've done both - rental 1, signed a 9 month lease to cover winter (he'd know if his contract was renewed by date) - then goes 1 year fixed. rental 2 - Was 1 year then automatically went MTM (stayed 3 yrs until job change out of town). Another renter was 1 year lease - after that I specfically signed MTM as they have pet & wanted to make any changes easy on myself - they are still there 3 years - but if a problem develops I can give notice easier. If a rental becomes empty in the fall I use a short term fixed lease to cover winter months that automatically reverts to MTM.

Re: Month to month vs year lease Your thoughts? by John Brayton (Massachusetts) on April 13, 2014 @11:43	[ Reply ]

I do a fixed term lease for the first full year, and then month-to-month thereafter. It is a tradeoff. John

Re: Month to month vs year lease Your thoughts? by Lighthope on April 13, 2014 @16:24	[ Reply ]

Courts generally don't hold tenants to term leases. They serve only a a leash to the Landlord. If you want the tenant out early, you have to jump through a mountain of hoops and still you may be stuck with them. On the other hand, a tenant can walk away and the most they get stuck with is a couple months rent if you're lucky. Month-to-month is the best way. If a tenant is going to leave, they are going to leave regardless of what kind of lease they have. Lighthope Pearls of Wisdom - "I meant what I said and I said what I meant. An elephant is loyal 100%!" - Horton (Horton Hears A Who)

Re: Month to month vs year lease Your thoughts?