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Re: Best Advice Part 2 - Landlord Forum thread 114053

Re: Best Advice Part 2 by Phillip in Western New York on October 5, 2005 @15:05

                              
Lastly: As stated earlier, document everything. I would also consider a conversation with the tenant on whether or not they plan on staying an entire year. A month-to-month tenancy might be a great way to make it easier for either of you to get out of the lease if say market values change, or the tenant is looking to purchase a home in the near future.

There are many options, but if the tenant is going to stay, I suggest some type of increase, even if it's something like a 1 year lease, $780 for the first three months, $785 for the next three, $790 for the next three, $795 for the last three, and then if they renew again, you will be at an even $800.

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